Mobile Home Park Investing

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Need Help Analyzing MHP-Deal or No Deal?

Posted Aug 8 2019, 19:22

HI BP! Looking for your expertise, guidance!

*Off Market Price-$1.2M (7.7 ac, Fully Occupied)

*30 Units (23 Units POH) (7 Lot leases)

*23 Units POH - $700 per mo=$16,100

*7 Lot Leases - $375 per mo=$2,625

*Tenant paid utilities

*Total Expenses from Tax Returns: $36,600

*All 30 park spots have their own septic tanks, and were all pumped Summer of 2018.

*The property has 3 wells while only utilizing one well for the park. The other two are well maintained and can be brought online at anytime if needed.

*Dumpster is on site for trash

Park is immaculate shape and needs no repairs currently. POH avg age of 20 years. 

What are your thoughts on this deal?

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