Contact Information

Mobile Home Park Details

  • Price: $1,050,000
  • Purchase Method: Cash
  • Cap Rate: 5.8%
  • Property ID: 1103647
  • Posted on Jul 7, 2019

Property Description

VALUE ADD - HUGE UPSIDE

Thirty acre Mobile Home and RV Community with 275 large spacious usable lots.

-189 MH lots there ($150 lot rent)
-77 RV lots with complete hookups, water sewer electricity and garbage pick up twice a week and we mow your yard every two weeks. ($425
-8 Park Owned Homes $500 renovated recently

All residents pay for their own utilities, water, sewer, garbage and electricity.

IMPROVEMENTS IN 2016:
Replacement/improvement of the six roads serving the park in 2016.
Office remodel
New meter boxes installation
Laundry Facility Built

BIG RIVER STEEL: River Oak MH & RV Park 10 minutes from Big River Steel, which just raised $800 million debt-equity financing package to expand scrap metal capacity June 2019 to begin Phases 2,3,4 & 5, to be built over the next 5 years. Once complete will leave behind 600 jobs with an area shortage of housing. This funding has been approved by the City of Osceola and State of Arkansas, who has $105M in state funds invested in this 1,800 acre, 2.1B development.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 275
Total Occupancy: 17.0 %
Year Built: 1965
Average MH Lot Rent: $150
Size: 30.0 acre(s)

Financial Information (Actual)

Gross Income $108,000
Operating Expense $42,000
Net Operating Income $66,000
Expense Ratio 38.9 %
Debt Info 0

Lot Information

Singlewide Lots: 190

RV Information

Number of RV Lots: 77
Average RV Lot Rent: $450

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $500

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