Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $900,000
  • Property ID: 1220124
  • Posted On: Feb 28, 2020
  • Updated On: Feb 28, 2020

Property Description

• Meadowbrook MHC is a 31-site, all-age 2-star community positioned on approximately 6.5 acres of land serviced by public utilities. The community offers a spacious layout with off-street parking and shaded trees covering most of the property. There is also storm shelter and basketball court on site.
• There is potential to add $7,300 in total income through lot rent increases and improved water/sewer recapture. Specifically, there is the ability to add $3,600 in lot rental income by raising all tenants to the $350 per month market rent (6 tenants currently at $300) and $3,700 by increasing the water/sewer recapture
rate from the current 45% to 95%.
• Offering includes 22 park-owned homes, of which 10 are occupied averaging $236 for the home rent portion. There is also one single family home on the property.
• The community sits in a prime location next to major thoroughfares I-135, Highway 400, and the Kansas Turnpike, providing easy access to the Central
Business District and wider MSA. The community is less than a ten-minute drive to Spirit Aerosystems Holdings, the largest employer in Wichita. There is also a Walmart Supercenter, Dillard’s, JCPenney and Target within a short drive from the community.
• Within a ten-mile radius the total population is a strong 407,285 and expected to rise to 415,326 by 2024. Average household income is $65,217 within the same radius.
• The community sits within the Wichita Public School district, which is Kansas’ largest, featuring 90 learning centers and 24 magnet programs.

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Park Information

Community Type: All Age

Utility Information

Water: City
Sewer: City

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