RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Listing ID: 546163
- Posted On: Jul 8, 2015
- Updated On: May 21, 2016
Description
This property is an amazing find with multiple streams of income and nearly perfect condition. The 8 lot mobile home park has 5 very nice park owned homes and 3 owner occupied homes. Each home is in great condition with a well qualified, long term tenant. The 8 lot RV park has workers from the area and no nightly or weekend campers to deal with. The entire property is on city water and city sewer! Next are 3 storage buildings that bring in over $700 per month. Finally, the owner's house is an amazing 4 bedroom, totally remodeled home with a two bedroom apartment with kitchen and bath and its own separate entrance. This property has it all: Amazing condition, city utilities, multiple streams of income and a great home and apartment to be used as a residence or more rental income.
Financials:
This beautiful home is set up as a 4 bedroom owner's home with a two bedroom apartment in the back with its own kitchen and bath. The home will easily rent for $800 or more with the apartment bringing in at least $495. The mobile home park adds $3,050 per month and the 5 nice park owned homes come with the deal! The mobile homes included in the deal are valued at 50,000. The RV Park contributes $1,100 per month on average with a soda machine adding another $100 per month. Finally, the 3 storage buildings add $720 per month. That totals up to $75,180 per year in income with only $10,300 in expenses for a Net Operating Income of $64,880! The park, house and storage buildings are in nearly perfect condition and all for only $675,000.
Call Trent Conaway at (317) 844-4684 for more information and to see this great property.
Financial Information (Pro Forma)
Gross Income: | $75,180 |
Operating Expense: | $10,300 |
Net Operating Income: | $64,880 |
Expense Ratio: | 13.7 % |
Utility Information
Water: | City |
Sewer: | City |