Description
Buy a current current current 9.3% cap, true 5.36% CAP (based on 12-month trailing numbers) with a proven path to a 12%+ cap rate by continuing the sellers repositioning.? In addition to upgrading the homes and property with over $70k in improvements the owner has upgraded the tenant base and has worked to place the best tenants this asset class can attract.? Given the aesthetic improvements and the upgrades in tenants it's not hard to see what will happen when the two remaining mobile homes are renovated ($16k per home estimated to get it to the market rent value) and the empty pad is filled.? You've got a glide-path to the optimal cap rate and cash-flowing asset that will perform for years and will give you a multitude of options.?Summary?10 pad MH site?9 homes on site?1 vacant pad?7/9 homes have been repositioned and upgraded?Excellent equity and upside for the buyer by continuing the reposition on the remaining two homes and placing a home on the empty pad.
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01/2 BATHS
School Information
Description
Buy a current current current 9.3% cap, true 5.36% CAP (based on 12-month trailing numbers) with a proven path to a 12%+ cap rate by continuing the sellers repositioning.? In addition to upgrading the homes and property with over $70k in improvements the owner has upgraded the tenant base and has worked to place the best tenants this asset class can attract.? Given the aesthetic improvements and the upgrades in tenants it's not hard to see what will happen when the two remaining mobile homes are renovated ($16k per home estimated to get it to the market rent value) and the empty pad is filled.? You've got a glide-path to the optimal cap rate and cash-flowing asset that will perform for years and will give you a multitude of options.?Summary?10 pad MH site?9 homes on site?1 vacant pad?7/9 homes have been repositioned and upgraded?Excellent equity and upside for the buyer by continuing the reposition on the remaining two homes and placing a home on the empty pad.