Fairview Mobile Home Park 10515 – 103 Ave., Fairview, AB
The Property: This park sits on 7.1 acres and has 50 fully serviced lots. Located 550km NW of Edmonton.
Services: This park has 50 fully serviced lots with city sewer, water and power. Street lights. Streets are good gravel. Garbage PU. Water is to one main meter in the park. No separate water meters to each pad.
Expansion: This park is fully developed. Note that once the 12 vacant pads are occupied the cap rate increases to 10.4%. These pads could be filled with new homes purchased at wholesale prices and sold at retail for considerable profit. It might even warrant obtaining a mobile home dealer license from a nearby manufacturer.
Management: The property is currently self-managed by the owners but they have tenant onsite that can look after all rent deposits. The lawn care is contracted out. The expenses have an allowance for a fulltime manager.
Zoning: MHP – Manufactured Home Residential District
Vacant Pads: Currently 12 vacant sites but each if fully serviced.