Mobile Home Park Details

  • Purchase Method: Cash
  • Property ID: 1113298
  • Posted On: Jul 30, 2019
  • Updated On: Nov 18, 2019

Property Description

Have you been looking for a mobile home park as an investment but been unable to find one due to budgetary constraints? This MHP might be just the one that you are looking for. Whether you are seasoned real estate professional or brand new to this type of investment, this is a park that has plenty of “value added” opportunities for the next owner.

The park is located in southern Illinois on State Route 45 in Eldorado, IL. The park has 1.80 acres, 23 pads, and is on city water/sewer!!! As the park sits today, thirteen of the 23 pads are currently licensed by the State of Illinois. Of those thirteen pads, six are occupied by tenants who own their own trailers. There is opportunity for “value added” returns in rental income as the current pad rental rate is only $100/month!!!

Each pad has its own electric & water meters that are directly billed to the tenants. Gas is not provided and tenants contract with a local LP company for their own tanks. The majority of the underground pipes have been replaced with PVC according to the owner.

There is also a 33 x 30 pole barn on the property that has a concrete floor, insulated, heated, and has a bathroom in it. This pole barn also has two large overhead doors that open and a wash bay inside of it. While this building is currently being used by the owner of the MHP for his own storage, there is future rental income that could be captured for this building.

The road is a standard oil & chip blacktop road and is in good shape. Tenants mow their own spaces currently. Owner mows all of the vacant pads.

No expenses were provided…Property taxes are $1,644 annually.

This is a cute little MHP that is priced to sell quickly!

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

Park Information

Community Type: All Age
Number of MH Lots: 23
Total Occupancy: 6.0 %
Year Built: 1960
Average MH Lot Rent: $100
Size: 1.8 acre(s)

Lot Information

Singlewide Lots: 21

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0

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