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Updated over 5 years ago,
Mobile Home Park - Rural Area - Non-Conforming
Hi folks, I'm analyzing a Mobile Home Park with 10 Acres, 11 mobile homes. The property is non-conforming as to land use and zoning now and cannot have more mobile homes or replace the old ones. The deal still with good cap rate, I like the area but I was thinking of rezoning in 3 years and build houses or replace the mobile homes. Any suggestion? Any idea can help me to analyze this deal from a different angle?
Any problem to remove the mobile home tenants or I should do like regular tenants?