$275,000

"BIRCHVIEW TRAILER PARK" LOCATED IN RURAL SETTING ONLY 5 MILES TO CITY CENTER. THIS HAS BEEN AN ONGOING BUSINESS SINCE AT LEAST 1967 AND CURRENT OWNER HAS OPERATED PARK SINCE 1979. THERE ARE A TOTAL OF 24 SITES WITH 16 SITES RENTED, ONE SITE WITH OWNER/MANAGER TRAILER AND ONE SITE WITH TRAILER IN THE PROCESS OF REHAB TO BE USED AS RENTAL BY PARK OWNER. NEW OWNER WILL BE ABLE TO RENT MANAGER TRAILER AND REHAB’ED TRAILER FOR APPROXIMATELY $750/MONTH EACH FOR ADDITIONAL INCOME. ALL OTHER TRAILERS IN TRAILER PARK ARE OWNED BY INDIVIDUALS PAYING MONTHLY RENT TO BIRCHVIEW TRAILER PARK. CURRENT SPACE RENT IS $250/MONTH/SITE AND ARE $50/MONTH/SITE UNDER MARKET VALUE BASED ON MARKET RENTS OF COMPARABLE TRAILER PARKS. TAX RECORDS FOR 2004, 2005 AND 2006 WERE REVIEWED. INCOME, FIXED & VARIABLE EXPENSES WERE ADJUSTED INCLUDING A 2007 PROJECTION. AVERAGE NET INCOME FOR 2007(EST), 2006, 2005 IS $36,500. SALES PRICE OF $275,000 ASSUMES A 13.25% CAP RATE. INCOME ESTIMATIONS IN ABOVE CALCULATED NET DID NOT INCLUDE RENTING THE TWO TRAILERS (MANAGER/OWNER & REHAB TRAILERS), NOR DID IT INCLUDE RENTING THE SIX VACANT SPACES. SALE INCLUDES LAND, INFRASTRUCTURE (8” DRILLED WELL, SEPTIC SYSTEM, ROAD SYSTEM), SHOP WHICH IS USED TO HOUSE ONE OF THE PRESSURE TANKS AND IS HEATED BY OFA FURNACE, AND HOUSE WHICH IS IN DISREPAIR AND IS LIKELY A TEARDOWN. OWNER IS IN PROCESS OF UPGRADING SEWER LINE IN ORDER TO OBTAIN ADEC WAIVER DUE TO SEPARATION DISTANCE ISSUE BETWEEN WELL AND COMMUNITY SEWER LINE. THIS WILL BE COMPLETED PRIOR TO RECORDING. RECENT UPGRADES INCLUDE: 2008- NEW ROOF ON MANAGER/OWNER TRAILER (#24), ON-GOING REMODELING OF RENTAL TRAILER (#6); 2007- NEW PRESSURE TANK FOR CLASS-A WATER SYSTEM, WIRING FOR WELL PUMP AND PRESSURE TANK PALCED IN CONDUIT, “WELL HOUSE” HOUSING THE PRESSURE TANK SECURED WITH LOCK, ALL OUTDOOR HOSE BIBS HAD ATMOSPHERIC VACUUM BREAKERS INSTALLED. ADDITIONAL UPGRADES MAY BE REQUIRED TO WATER/WASTEWATER SYSTEM SHOULD NEW OWNER DECIDE TO RENT OUT VACANT SPACES. CURRENT SELLER WILL NOT DO THESE UPGRADES. CALL LISTING AGENT FOR MORE DETAILS AND SHOWING. SELLING LICENSEE PLEASE REFER TO COVER LETTER IN ASSOCIATED DOCS FOR INSTRUCTIONS WHEN SUBMITTING AN OFFER.

Details

Interior Size (sq. ft.): 1,680

Lot Size (acres): 5.8129

Year Built: 1964

The Fairbanks Daily News-Miner makes no guarantee as to the accuracy of this information.