Updated Dec 4, 2024
UMH Properties, Inc Acquires 260-Unit Mobile Home Park In Jackson For $23M
565 Diamond Road, Jackson, New Jersey 08527, United States
$23,000,000
Units
260
Asset Type
—
Closing
Dec 15, 2022
About this deal
AI
A mobile home park located at 565 Diamond Road in Jackson has been sold for $23,000,000. The park spans across 42 acres and consists of 260 units. The sale was finalized on December 15, 2022.
Summary of transation details
- Property Type: Mobile Home Park
- Transaction Amount: $23,000,000
- Address: 565 Diamond Road, Jackson
- Market: Jackson
- Acres: 42
The buyer for this transaction is UMH Properties, Inc, represented by Samuel A. Landy.
This sale marks a significant investment in the mobile home park market, with 260 units being sold at an average price of $88,462 per unit. UMH Properties, Inc continues to expand its portfolio with this acquisition.
Players
Jackson CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93