Anyone have experience with small mobile home parks?
I have a tired landlord lead selling a 12 space MHP. There are 8 park owned MHs ages from 1974-1995. 1 MH used for storage. I lot rented with a non-owned MH and two vacant lots. Annual rents are $48,000. Seller says expenses are $7,200/yr but he does all the maintenance. The park provides water and sewer with one well and one septic system. I've never done anything with MHs before. What kind of things should I be looking for and what kind of CAP rate should I expect to get?
Carl Mullin 352-Four46-8559