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Updated over 5 years ago,
Mobile home park evaluation
Hello, new investor here and I would love some help evaluating a deal. Local mh park right down the road from my house, 10 old park owned mobile homes, small run down 6 apartment building, small stick built cabin. All rented between $350-550 per month. Current net income for sellers @ $55,000 without a mortgage. The park is 4.5 acres zoned fo 8 units per acre. Good location B area, but the park itself is a C. Water is well, sewage is city. What would you offer here? How would you turn this park around? Looking for possibilities and opinions. Thanks!