Contact Information

Chuck Gray

ReMax Truman Lake

Mobile Home Park Details

  • Price: $115,000
  • Cap Rate: 20.0%
  • Property ID: 1248360
  • Posted On: Apr 29, 2020
  • Updated On: May 4, 2020

Property Description

23% cap rate. 85% cash on cash at current 100% occupancy. This proforma summary has factored in a 10% vacancy / credit loss.
6-lots. 5-park owned homes. 1-privately owned home. 3.3 acres. 100% occupancy. 9-miles south of Warrensburg MO. In Johnson County. Located in the country on gravel road access and gravel interior roads. PVC water and sewer lines. Rural / County water. State approved sewer system. Price for park as is $95,000.00. State approved engineered sewer system is ready for installation once weather permits. Current owner has contract with licensed installer for $20,000 to complete. All state and local permits paid for. Total cost for park $95,000 park $20,000 sewer system = $115,000.00 total. Seller will escrow $20,000 at close for installation cost of sewer system. Or will sale park for $95,000 and allow buyer to pay contractor for installation cost. Buyers choice.
Seller's motivation is to take cash from sale and use to compete his 90-lot park Pittsburg Kansas. Quick close required. Buyer of this park will be given first opportunity to purchase Kansas park.

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Park Information

Community Type: All Age
Number of MH Lots: 6
Total Occupancy: 100.0 %
Average MH Lot Rent: $495
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income $35,700
Operating Expense $8,992
Net Operating Income $26,708
Expense Ratio 25.2 %
Debt Info

Lot Information

Singlewide Lots: 5
Doublewide Lots: 1

RV Information

Average RV Lot Rent: $275

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $500

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