Is a Mobile Home buy a good investment but the land is leased.

[Ab Okoeguale]

I saw this Mobile Homes park for sale for $300k ,a 68 units 2bd 1ba with a cap rate of 15% without the land.

Is it a good deal..??

Advice please

[Ab Okoeguale]

Originally posted by @Taylor L.:

The best answer requires a deeper dive, but broadly speaking most mobile home park investors want to own the land and not own the units. In this case, the owner is selling the units but not the land? Who is the land leased from?

I probably would not be interested because those mobile homes are probably going to need a lot of work due to deferred maintenance.

 Absolutely correct.

Thanks for your input.