Mobile home park options - Which one would you choose?
Hey Guys, I am brand new at analyzing MHP's and would love yalls insight on these that are available in my area. I'm aware other variable will need to be considered, but on face value, which one looks like the best investment.
1. Asking price $1,100,00, # of lots = 46, park owned = 0, well/septic w/oxidation pond, $9200/monthly rent, 7% expenses
2. Asking price $1,350,000, # of lots = 27, park owned = 27, city water/sewer, $17,500/monthly rent, 31% expenses
3. Asking price $1,870,000, # of lots = 51, park owned = 48, well/septic (city is available for hookup), $30,600/monthly rent, 29% expenses
4. Asking price $3,500,000, # of lots = 108, park owned = 15, city water/sewer, $59,675/monthly rent, 22% expenses
5. Asking price $1,180,000, # of lots = 21, park owned = 12, city water w/septic, $10,925/monthly rent, 9.40% expenses
6. Asking price $1,000,000, # of lots = 23, (RV Park) Also included 94 storage units, well with oxidation pond, $19,960/monthly rent, 13% expenses.