Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $11,500,000
  • Property ID: 1107314
  • Posted On: Jul 15, 2019
  • Updated On: Oct 24, 2019

Property Description

**NOW PRICED $11,500,000** **OFFERS DUE NOV 19th**
• Rare opportunity to acquire a portfolio on mostly public utilities with an existing community-owned home inventory that will allow a new owner to rapidly grow occupancy through the sale or leasing of homes.
• The offering includes 168 community owned homes, of which around 64% are currently occupied. While the Owner would consider individual offers for the properties, the preference is to sell them together.
• Three of the communities are located within a 15-minute drive of each other in Jefferson City, the state capital of Missouri. This allows a new owner to immediately gain a significant foothold in the market and benefit from economies of scale. Currently, there is one manager running the entire portfolio.
• There is potential to add up to ten extra lots at the largest park in the portfolio (J&L), which is currently 88% economically occupied. According to the owner, the local authorities are favorable towards manufactured housing and are likely to allow an owner to add as many lots as they can fit.
• There is strong demand for affordable housing in these housing markets. Within a ten-mile radius of the properties, the average household income across the portfolio is approximately $75,500 and the average household values are approximately $189,000.

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Park Information

Community Type: All Age
Number of MH Lots: 364

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