First time small MHP deal
Hey BP,
We are in negotiations on this immaculate 6 unit multifamily property which consists of a 3 Family house and 3 Mobile Homes. We have the property inspection on Saturday and think that it will go fine. The property is extremely well kept, many recent big Capex upgrades, has almost no deferred maintenance, long term tenants, almost a 0% vacancy rate, in a great location and room to raise rents to market value over time. The current owner has done an amazing job of record keeping on maintenance and repairs. He is looking to retire and cash out.
Our only reservations are with the Mobile Homes, we just don't know enough about them. This mixed style property is not in our wheelhouse, we usually just deal with MFH's but we see good long term value to be had here. We have looked up values and come up with some different/nonconclusive results. They are in good condition and on 8" reinforced slabs with proper tie downs, blocked and skirted, they all have pitched, shingle roofs.
Any input on the value of these or where to get a fair and accurate value would be appreciated. These would remain park owned homes. The numbers in the calculations are from the owners books and seem to be accurate.
Trailer #5 2006 Pine Grove Model G490 14x60
Trailer #7 2004 Pine Grove Model G490 14x60
Trailer #9 1988 Schult Model #6014-314 14x56
*This link comes directly from our calculators, based on information input by the member who posted.
