Contact Information
Chuck Gray
ReMax Truman Lake
Mobile Home Park Details
- Price: $1,750,000
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.0%
- Listing ID: 4220831
- Posted On: Dec 28, 2023
- Updated On: Feb 19, 2024
Description
See Attached Offering Memorandum for more detail. 13 acres +/- directly off of Hwy 7 near Truman Lake and Warsaw, MO! Mobile home/ RV "lots." 86 are occupied 23 units storage buildings, shower house, and fish cleaning station located towards front middle of property. There are also 6 lots located off of Karrs Park Rd on the east side of property, these lots pay $100 month "HOA" for sewer connection & maintenance. Park has on site storm shelter, swimming pool, and office/ duplex that could be converted into additional full time or short term rentals, as well as a large equipment storage building, which are not currently rented out but could be to create additional revenue and upside quickly.
There is one double wide that is owned by the park. There is a life estate in place for the tenant who occupies home (contact me for more info)Property has an engineered, state certified septic system, system has the ability to handle additional sites.
Park provides water to main mobile home/ RV lots, but does not provide water to Blueberry Phase 2 lots. Park pays for electricity to each lot, and then collects back from tenant.
Location
Harry S Truman Lake is defined as a conglomerate of 4-counties; Henry County population 22,206, Benton County population 19,908, Hickory County population 8,607, and St. Clair County population 9,367.
Lake of the Ozark is defined as a conglomerate of 3-counties; The 2020 populations of said counties were as follows: Morgan County population 25,550, Camden County population 46,290 and Miller County population 27,277. All three counties are experiencing explosive growth rates.
Lake of the Ozark and Truman Lake experience a high influx of residents during the prime lake season (also prime ice season) March through October. With populations increasing dramatically as family and friends occupy their lake homes. Both lake areas are currently experiencing substantial growth in business, tech, and manufacturing as well. It appears the mass exit from big cities to the rural areas is here to stay.
Amenities
- Pool
- Club House
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 86 |
| Total Occupancy: | 97.0 % |
| Year Built: | 1996 |
| Size: | 13 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $299,592 |
| Operating Expense: | $112,629 |
| Net Operating Income: | $171,983 |
| Expense Ratio: | 37.6 % |
| Debt Info: | Seller will carry a 2nd deed at full price |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Download Documents
- Offering Memorandum Blueberry Ridge MHP Storage Racket MO.pdf
- Confidentiality Agreement Blueberry Ridge MHP MO.pdf
