Property Description

• Russell Mobile Home Community has gone through a tremendous turnaround and the current owner has done the heavy lifting, including cleaning up the tenant base, changing out the management staff, and rehabbing homes.
• Future opportunity for a buyer to focus on property-stabilizing operations such as moving rents up and converting rental homes to home ownership.
• This low-density park is an all-age community with 39 park owned homes that have an average monthly payment of approximately $290. The park owned homes are included in the sales price.
• Property is on municipal utilities. Homes are metered for electricity, sewer, and water, for which tenants are direct billed.
• The Midwest Fertilizer Company is in the process of locating a $2.8 billion state-of-the-art manufacturing plant in Mount Vernon that should bring up to 2,500 construction jobs and 185 permanent, highpaying jobs.
• The median household income is near $50,000 within a five-mile radius of the property.