Cedar Crescent MH Park 5161 - 63rd Ave, Salmon Arm, B.C., V1E 4P8

Type Mobile Park Status Sold Location British Columbia City/Town Salmon Arm Price $1,000,000 Land Base 16 acres Cap Rate 7.1% (includes 5 acres of land for expansion) Pads 30 (6 doubles/ 24 singles) Most lots can accommodate doubles.l Topography Level to gently sloping. Has creek running through middle area Expansion 5 Acres zoned MHP. Maybe 30+ if sewer connected to city sewer. Residence 1445 s.f. 3 bedroom home for owner or manager. Age 26 years Taxes 1999 - $8,400 Zoning MH, Mobile Home Park Vacancy Fully occupied. Zero Vacancy Pad Rents $263/mo/pad. Gross Income $101,880 Net Income $71,190 (see attached for cash flow after expansion) Financing Seller may carry up to $750,000 on a first mortgage @ 7% for 5 years.