N.W. Atlanta Area Mobile Home
Park
| Presented for: |
$ 300,000.00 |
|
| Appx. 1999
Income/Expense |
|
|
| INCOME |
|
$ 58,920.00 |
|
Miscellaneous Income |
|
$ 6,290.00 |
| GROSS
OPERATING INCOME |
|
$ 65,210.00 |
| Estimated
Total Expenses/Taxes |
|
$
(8,524.00) |
| NET ANNUAL
INCOME |
|
$ 56,686.00 |
| CAP
RATE |
18.89% |
|
** Park was has been owned by seller since appx. 1985 and
is grandfathered with county
** Park has 20 units in place in which 4 are Owned by
seller, plus has 1 Office Building
** Pad
Rent on is paid monthly: 16 @ $185 p/mo. =
$35,520 p/yr
** Rent on is paid weekly as follows: 3 @ $110
p/wk., 1@$120 p/wk = $23,400 p/yr
Balance of Income is from 4 Rent to
Own contracts @ 18% = $524 p/mo =
$6290 p/yr
Rent
to Own contracts mature (09/2002, 05/2002, 02/2002, 10/2001) if not default
Tenants pay own
utilities, individually metered
** Park is on 5
Acres with Quick access to Highways, Owner Selling to
retire
FINANCING: Bank-Available
with approximately 20% down
or more
|
Expenses\Yearly: |
Mobile Decals = $400 |
|
1999 Property Taxes = $1,000 |
Phone = $840 |
|
Insurance = $600 |
Total = $8524 |
|
Electric\Lights = $1,200 |
|
|
Garbage = $1,884 |
Note: Land values in the
area are selling from $25-65,000 |
|
Maintenance = $2,400 |
per acre
w/residential zoning. |
Information Deemed Reliable But
is Not Guaranteed or Warranted
RE/MAX Elite Commercial,JERRY SIEBER
Phone: 770-481-6600
|
