Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Property ID: 1059385
  • Posted On: Apr 23, 2019
  • Updated On: Dec 30, 2019

Property Description

Sunset Mobile Home Park

48 space park with 32 total trailers. 8 Tennant owner trailers, 7 rent to own trailers and 17 park owned trailers.

Rent to own trailers are in a 5 year contact with a value of $18,000. $250 is lot rent, remaining applied towards principle. All tenants have background checks, employment verification and credit checks.

All city services, water, and sewer paid by tenants. Power paid by tenants. All new underground electric installed in 2018.
Asphalt roads in need of minor repair.

Park has one electric bill averaging $80 a month.

2.5 miles from Wallmart. Brand new condominiums being built next to the park on HWY 80. Lake Cumberland 3 miles away. Banks, Grocery, food and all amenities less than 1 mile from the park.

Current lot rent is $150 - Needs to be $200. $225 the following year and capping out at $250.

2 Bedroom trailers rent for $450 with over 100 applications per Facebook post.

3 bedrooms rent for $550 with over 75 applications per Facebook post.

Park current rent roll is bringing in $11,015 per month X 12 = $132,180. per year.

Park needs to bring in additional 16 three bedroom trailers to rent at $550 - $600
per trailer. An additional 8,800 per month is a very real possibility. $105,600 annually.

Park needs an owner with the capital to bring in trailers. Professional management is in place paying her $500 per month.(Off Site) Long Term trusted Handyman in place being paid $10 a hour.

Take a good hard look at Somerset, the economy is booming. Commercial as well as residential buildings. Tons of blue-collar work to be had, Amazon just moved in 2 hours away with more to follow.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Year Built: 0

Lot Information

Singlewide Lots: 48

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City