Mobile Home Park Deal?
Hey everyone. Newbie here. Found an ad for a 12 unit mobile home park. Looking for some info as far as deal quality and things to watch out for.
Price: 149,900
Units: 12
More info:
9 lots occupied. 8 of which are park owned.
3 vacant lots and room to add 4 more.
Ad claims 42,000 a year in gross income currently (with the 9 occupied units).
I believe that makes rent/fees income equal to $500/month per unit.
Wondering what sort of stuff to be wary of when reading ads like this. I wonder why it's being sold and if it's even worth a look.
Any info is appreciated :) Thank you!