A&A Mobile Home Park

Property Description:

Located in an area without rent control with a high demand for affordable housing A&A Mobile Home Park offers an investor a 2* park with historically high occupancy and low rents for the market for immediate upside.  A&A is a 60 site all-age mobile home park with a mix of doublewides, singlewides, and a few permanent RV sites none of which are owned by the park.   There are 5 vacant sites and the rent is $350 plus a utility pass through which is low for the market.  Common areas include paved roads, laundry area, and a clubhouse which does not appear to be utilized.  Sites have grass and there is landscaping throughout the park.  A&A just completed the Pilot Program and residents are now being direct-billed for gas and electric.  There is an additional 4.5 acres in the back (park itself is located on approximately 4.5 acres) which is currently unused but could be leased for agriculture or used for additional development.  It is unlikely in broker’s opinion to expand the park for more sites.  All sites have small driveways and awnings for parking.   Mobile home inventory has mostly 80’s units with some newer product mixed in.   Currently a manager in place getting free rent, utilities, and salary who will stay for new owner.  Sale includes a mobile home with a value of approximately $50,000