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Updated about 5 years ago,
mobile home park analysis
Hi all, newbie here and i'd appreciate your thoughts on a MHP i found. The plan is to 1031 my single family rental property to go towards this one.
-asking $350k
-12 lot rents at $300 each, 1 single family house at $800, gross income $52,800
-expenses $14,298, NOI: $38,502
-100% occupancy on lots and SFH
-city water/sewer
-"known issues" listed: park could use landscaping improvements, homes are older models but tenant owned, recently purchased with limited books and records
Thoughts? I think the numbers look good, but could use some help on additional due diligence questions I should be asking. Thanks in advance.