Heartland Mobile Home Park - for Sale in Emporia, Kansas
930 Graphic Arts Road
Emporia, KS 66801
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Seller Information
Rosetta E ParkerHeartland Mobile Home Park
Mobile Home Park for Sale |
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| Number of MH Lots: | 107 |
| Size: | 11.5 acre(s) |
| Cap Rate: | 10.0% |
| Purchase Method: | Seller Financing |
| Status: | Active |
| Property ID: | 107393 |
| Posted on: | Oct 27, 2011 |
| Updated on: | Apr 19, 2012 |
| Price: | $530,000 |
Property Description
110 padsites ( 3 used for a playground), one for office and two for storage and storm shelter; total rentable 104; situated on 11 acres; park owns 67 mobile homes. THIS IS A FIXER UPPER, homes can be rehabbed and rented or sold. City water/sewer, trash removal services. stable income, onsite manager. call or email for sales information.THIS IS A VALUE ADDED PROPERTY WITH A SIGNIFICANT INVESTMENT UPSIDE. iF YOU ARE CREDITWORTHY AND HAVE THE CAPITAL TO INVEST, THIS IS A GREAT INVESTMENT.Currently, 35% occupied.
Owner terms: 6.00%, 30 year/AM; balloon in three years; Firm Down Payment of $100,000. good credit, experience in managing real estate.
Mobile homes rent or lease to own as fast as they are ready for occupancy. don't speak to manager or tenants. call 816 228 8222 ext 7 for questions
Location Description
26k city population
36k County
Unemployment rate is 4.9% vs 10% US
Income per capita 18K vs 36K ud-excellent for mobile home parks
vacancy rate 8% vs 10.5% US
Renters make up 35% - higher thatn national average
low cost oif living 23% lower than US avg.
Park was appraised for 1.0 million in 2000 but suffered vacancies due to local tyson plant closing
Park Information
| Number of MH Lots: | 107 |
| Total Occupancy: | 35.0% |
| Average MH Lot Rent: | $180 |
| Size: | 11.5 acre(s) |
Financial Information (Pro Forma)
| Gross Income | $92 |
| Operating Expense | $33 |
| Net Operating Income | $59 |
| Expense Ratio | 35.9% |
| Debt Info | $100,000 down, owner will carry |
Lot Information
| Singlewide Lots: | 95 |
| Doublewide Lots: | 9 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 67 |
| Average Rent for Park-owned Homes: | $200 |
Amenities and Other
| Laundromat: | Yes |
| Storage: | Yes |