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Past Project #2

  • Number Of Spaces: 32
  • Occupancy Percentage At Purchase: 70%
  • Occupancy Today: 100%
  • Income At Purchase: $15,000
  • Income Today: $18,000
  • Number Of Homes Moved In: 4
  • Space Rent: $385
  • Description Of Property: This Park contains 28 mobile home units and at the front of the park there are 5 commercial space tenants. At the time of purchase, there was 1 vacancy in the commercial space and only 15 paying tenants in the park. We have added 4 mobile homes and got the park 100% occupied. We also rented the vacant commercial space to our existing tenant. When we purchased the park, it was doing $15,000 a month and today we are doing over $18,000 a month and still have potential to add another space or two. We have beautified the park and commercial space with landscaping, a new sign, painting on the commercial building and all the repairs done to the existing homes in the park. This is a great park and a very desirable place to live; it should retain a solid occupancy for many years to come.
Category: Past ProjectsBy Joe OrlandiniOctober 27, 2016

Author: Joe Orlandini

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