Contact Information

Mobile Home Park Details

  • Price: $1,885,175
  • Purchase Method: Cash, Seller Financing
  • Property ID: 1157914
  • Posted On: Nov 21, 2019
  • Updated On: Nov 21, 2019

Property Description

43 Income Units:

| 23 Spaces
- 17 MH Spaces @ $180 + 6 RV Spaces @ $325
- 3 of the 17 MHs are Park-Owned
| 18 1-bed Apartments
- 12 1-beds @ $450, 2 1-beds @ $500 & (quadplex) 4 1-beds @ $425
| 2 Commercial Buildings
- 30' x 90' Shop & 12' x 60' Office

Water, Sewer & Electric are serviced by the City of Siloam Springs and are billed-back $34/adult & $17/child; Natural Gas serviced by Black Hills Energy & Billed-Back as well. All utility bill-back income supersedes the expenses - net profit in 2018 was $640.

Insurance is billed-back as well; total profit in 2018 was $927.

Additional $37,975 Balances on 3 Homes at 10% interest (1. $10,800; 2. $20,352; 3. $6,823). Onsite residence valued at $184,000.

Location

W-7 Properties is located in Siloam Springs, directly off US-412 on the northern side of Main Street. Property is around the corner from an American Self-Storage and is only one mile west of a Walmart & Lowe's; other well-known retailers in the area include Domino's & Little Caesars, Waffle House, GameStop & Wendy's, among others.

Siloam Springs is a city in Benton County, Arkansas that shares a border on the Arkansas-Oklahoma state line with the city of West Siloam Springs, Oklahoma, which is within the Cherokee Nation territory. The community is located on the western edge of the growing Northwest Arkansas (NWA) metropolitan area, which in 2016, the United States Census Bureau estimated as the 105th largest metropolitan statistical area in the U.S. at 525,032 residents and the 22nd fastest growing in the United States.

Northwest Arkansas doubled in population between 1990 and 2010. Growth has been driven by the three Fortune 500 companies based in NWA: Walmart Stores, Inc., Tyson Foods, and J.B. Hunt Transport Services, Inc., as well as over 1,300 suppliers and vendors drawn to the region by these large businesses and NWA's business climate. The region has also seen significant investment in amenities, including the Crystal Bridges Museum of American Art, the Walmart AMP, and the NWA Razorback Regional Greenway.

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Park Information

Community Type: All Age
Number of MH Lots: 23
Year Built: 1993
Average MH Lot Rent: $180
Size: 3.9 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

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