Great in town Merritt location.11 pad seniors 55+ mobile home park. City services. Easily managed from a distance. No onsite manager required.
Call Bill Summers for more information. Download printable colour brochure
Asking Price: $699,000 Cap rate at ask: 5.6%
- Legal: PID: 102-121-223 PL KAP717; Lot 1; BLK; 38; LD 25; Except PL 8803
- Lot Size: .826 acres
- Pads: 11 in total. All owner-occupied. No vacancies now or in the past. 55 + seniors designated.
- Actual Use: MHP
- Approximate age of park: 1960’s
- Services: City water and sewer (Water lines upgrade 2012. Sewer lines all new 2000 and lines flushed 2012. City garbage collection. Billed quarterly.
- Electrical: Overhead electrical upgraded in 2013 to BC Safely Authority
- Natural gas: Yes
- Street Lights: Yes
- Paved: Yes
- Property Tax: $4,706 for 2017
- Snow Removal: Most years it is not required at all.
- Management: Easily managed from a distance by park owner. Virtually maintenance free.
- Gross Revenue as of July 2018: $4,520 Mo. Average of $411 mo. per pad
- 2018 yearly gross $54,240
- Expenses: 2018
- Property Tax: $4,706
- Utilities: $8,050 Water/Sewer Garbage $2,012 quarterly
- Insurance: $1,207
- Hydro: $137 for street lights
- Licenses/memberships $528 Business/MHPOA/Electrical permits
- Repairs Maintenance $320
- Total: $14,948 27.5% expense ratio
- Net Income: $39,292
