HELP WITH MOBILE HOME PARK PURCHASE

[Giancarlo Ameglio]

Hello,

I am analyzing a deal for a 5-unit mobile home park. It is going for $170k and it's generating $3000 in revenue.  It has the potential for small improvements like designated parking areas and fenced patios. It also has room for more mobile homes or the remaining space could be turned into an RV rental. What recommendations do you guys have for these kinds of properties? I have never owned a mobile home park but the numbers in this deal look good. I am not an expert but I would not be surprised if mobile homes don't appreciate a lot over the years. Any recommendations are welcome.

After running my analysis on the property these will be my numbers : 

Earnings

$1,122 /mo

Income

$3,000 /mo

Expenses (taxes, insurance, loan, management fee)

$1,877 /mo

CoC ROI

31.35%

• Info
• 3,118 sqft of living space.
• Lot Size Dimensions: 280x84x178x154x135
• Area
• Florida