10860 CHEMAINUS ROAD, Ladysmith, BC, V9G 2A4Listing ID# 429463
The principal assets of Saltair Properties' Mobile Home Park (MHP) are 15 mobile home pads, one house and one commercial building currently leased to the Saltair Food Market. Gross annual revenue is $129,986 with a 21.5% expense ratio, including a fee for on-site management. There is 100% occupancy, and there have been no vacancies in 12 years. The $1,775,000 asking price is based on a conservative 5.75% capitalization rate. There is expansion potential not reflected in the asking price which can enhance the value of the property by an estimated $123,000 for a capital expenditure of approximately $40,000 - i.e., a net increase in value of $83,000. For an alternative perspective, the listing price provides for a 6.0% capitalization rate if the benefits of the expansion project are taken into consideration. A confidential valuation is available by request.
MLS? system data provided by VIREB, copyright? 2017. The information is from sources deemed reliable but not relied upon with independent verification.