Best Mobile Home Parks for Sale of 2021
Final Verdict
The best mobile home parks for sale offer an attractive piece of property, a mix of park-owned and tenant-owned homes, and provide a steady income stream with a high occupation rate. In addition, some offer seller financing, and investors have room to raise rents or expand the number of spaces.
Oakhaven Mobile Home Park is 100% occupied and sits on 6.27 acres with mature trees. It recently had major updates, including a new pumphouse, and comes with a 400 square foot site-built space that can be used as an office, apartment, or transformed into a community space. Oakhaven Mobile Home Park is 65 miles from Reno, Nevada, and near the small city of Susanville, California, making it a good location for long-term residents and travelers. Its low price and expansion opportunities make it the winner of our best overall trailer park for sale.
Compare the Best Mobile Home Parks for Sale
| Company | Price | Location | No. of Lots | Size (in acres) | Purchase Options |
|---|---|---|---|---|---|
| Oakhaven Mobile Home Park Best Overall | $300,000- $525,000 |
Janesville, CA | 12 | 6.27 | Cash, owner-financing loans, seller financed |
| Liles Mobile Home Park Best Return on Investment | $405,000 | Tappahannock, VA | 9 | 6.67 | Cash and owner-financing loans |
| loomfield Village Best Cost per Lot | $360,000 | Bloomfield, IA | 32 | 2.87 | Cash and owner-financing loans |
| Silverbrook MH and RV Park Best for Multi-Family Units | $875,000 | Randle, WA | 18 | 3.7 | Cash and owner-financing loans |
| Confidential Southeast Wisconsin Mobile Home Park Best for Single-Family Units | $1,375,000 | Milwaukee, WI | 36 | 5.22 | Cash and owner-financing loans |
| Place to Call Home Best Location | $347,500 | Monticello, IN | 33 | 10 | Cash and owner-financing loans |
| Winter Haven Mobile Home and RV Park Best for Seniors | $649,000 | Truth and Consequences, NM | 24 | 2.98 | Cash and owner-financing loans |
How to Choose the Best Mobile Home Parks for Sale
Before picking the best mobile home parks for sale, consider the following:
- Investment goals: Decide what you want to accomplish and a timeframe, such as the return on investment and return on any capital investments.
- Budget: Think about your total budget for purchasing a mobile home park, including funds required for administrative fees and repairs.
- Financing: Determine how much money is required for a downpayment and explore mobile home park loan options.
- Location: Select a geographic area that suits your business needs and goals.
- Spaces: Narrow your search by choosing mobile home parks offering the total number of spaces needed to meet your income goals.
- Services: Consider if you want all city services, such as sewer and water, or if you’ll accept sites with one or more private utilities.
- Occupation rate: Filter mobile home parks for sale by picking an occupancy rate that you’re comfortable with.
- Comparable properties: Take a look at comparable properties in your area and decide how much lower your selected property’s rents should be.
Mobile Home Parks for Sale vs. Apartment Buildings
Mobile home parks often take the lead in the mobile home parks versus apartment buildings debate. Similar to apartment buildings, mobile park owners pay for and maintain property infrastructures, such as common areas and streets. But, they don’t pay individual apartment costs, as people supply their own mobile home and lease the land from the mobile home park owner.
As a result, operating expenses and ongoing capital maintenance costs may be lower than apartment ownership. Additionally, the tax benefits may be better for mobile home parks. Land improvements may depreciate on an accelerated schedule, allowing owners to pay fewer taxes on properties.
Frequently Asked Questions
Are Mobile Home Parks for Sale Good Investments?
Mobile home parks for sale can be good investments. They offer higher cap rates than multi-family housing, depreciate quicker, leading to tax benefits, and the operating expenses are often lower than other property types. Furthermore, tenant turnover is often less in mobile home parks compared to apartment buildings. These factors can make owning a mobile home park a profitable investment.
Can I Receive Financing to Invest in Mobile Home Parks for Sale?
There are several types of financing for investors interested in mobile home parks for sale. Bank and seller financing are two common methods used. Real estate financing through a bank typically requires a higher down payment, whereas seller financing may require a smaller down payment and longer payment terms. Another option is to enter into a master lease with the option to buy after a certain number of years.
How Much Do Mobile Home Parks for Sale Cost?
The cost to buy mobile home parks for sale varies widely, depending on the number of acres, residential spaces, availability of city services, and location to popular areas, such as college towns or larger cities. In addition, mobile home parks with higher occupation rates and low debt-to-equity ratios may garner higher bids. In general, mobile home parks on our list range from $300,000 to $1,375,000. However, a well-situated trailer home park can cost several million dollars, depending on the location and amenities.
Methodology
We reviewed the best mobile home parks for sale by looking at real estate across the United States, including roughly 50 properties. We considered the property price, potential return on investment, and the total number of sites. We also examined the gross and net incomes, expenses, and type of maintenance required. Additionally, we evaluated properties based on the current lot rent versus market prices, the number of park-owned homes, types of units, and total acreage. Lastly, we checked out the local area, utility services, and the possibility of expansion.
