Thoughts on purchasing mobile home parks. I have an opportunity to purchase one in San Antonio, 19 spaces. Current monthly cash income 5,500. Asking price 315K. There are 4 empty available spaces and in on the Historical District. The Out going expenses are 2,800. That’s taxes, electric, trash and water.
Thats a high cap rate in that market if those numbers are accurate. Question is IF. Did you see a trailing 13 and is there value add?
If it's in a historic district check zoning to make sure you wont have an issue filling up those empty spaces.