Mobile Home Park Details
- Cap Rate: 12.5%
- Listing ID: 513572
- Posted On: Mar 17, 2015
- Updated On: Oct 19, 2020
Description
12.50% cap rate, 27% cash on cash, $37,000 cash flow. 51-lots, 43-lots occupied, 8.46 acres +/-, Privately Maintained sewer & water utility operator, Park has no responsibility for water or sewer, simply pay $20.00 per month per site for connection. Natural gas on site, city streets on three sides, paved interior roads and parking, timbered lots. Built 1985. No- Park owned mobiles 43- Pads leased as of March 2015 @ $200.00 each. 8- Pads vacant (ready to rent) several will hold 80 foot homes. 3-sites will take RV's Tenants pay a lot rent that includes water & sewer for a total rent. Tenants pay electricity. Park Pays Water & sewer $20.00 per month.
Location
Located in Pettis County, population 42,000, City of Sedalia population 22,000, the county seat. Sedalia is a rapidly growing city and is home of the MO State Fair. Average vacancy for rental property in Sedalia is 8%. Average market rent for mobile home lots $230 to $280 per month plus water and sewer.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 51 |
| Total Occupancy: | 85.0 % |
| Year Built: | 1985 |
| Average MH Lot Rent: | $200 |
| Size: | 8 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $122,400 |
| Operating Expense: | $37,354 |
| Net Operating Income: | $66,686 |
| Expense Ratio: | 30.5 % |
Lot Information
| Singlewide Lots: | 51 |
RV Information
| Number of RV Lots: | 3 |
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
