Seller Financing 27-pad RVP + 89 Storage Units in Northern AR
We just inspected this park and it looks great.
In order to receive the full package and more details on the inspection email marketing@equalhousinggroup.com to sign an NDA.
Deal Highlights:
  • Price: $900,000 (includes fee)
  • YR 1 COCR of 13.24%
  • Seller financing: $145k down (doesn't include fee), 5.5% interest-only payments of $3,002, 3 yr note
  • Park was built in 2000
  • Seller is not tech-savvy and has zero online presence so the infill projections are very plausible
  • Manager ads posted at $1500/month with 20 qualified applicants
  • All neighboring parks and storage facilities are at a minimum 85% occupancy
Occupancy:
  • 27 total pads
  • 16 occupied / 11 vacant
  • 100% TOHs
  • Average lot rent: $258 (market $400–$595)
  • 89 storage units - 63 units occupied currently
  • 1 apartment (1 bed/1 bath, $850/mo, fully remodeled within last 12 months)
  • 1 office building on site
Utilities:
  • City water - park pays
  • Septic - park pays
  • Electric – tenants pay directly
  • Trash - park pays
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2 comments
Erik Nielsen
3
Seller Financing 27-pad RVP + 89 Storage Units in Northern AR
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