Developing spaces in Mobile Home Park
Hello BP Community.
I am considering purchasing a small mobile home park. The utilities are private (Well and Septic). The numbers look great (12 cap) with value add potential in that there is additional acreage to develp more spots.
Has anyone every developed additional spaces in a mobile home park? I will have to install a new septic system, and well for these spaces as well. The the septic will be conventional and a new well only goes 40 feet to good water. (These costs would be around ($15,000).
What would the cost per site be to develop?
I thank you in advance for contributing.
Jon