Contact Information

Mobile Home Park Details

  • Price: $1,204,807
  • Property ID: 1292826
  • Posted On: Jul 21, 2020
  • Updated On: Sep 21, 2020

Property Description

Sunstone is pleased to offer for sale a Confidential IL 40-site all age community located in the St. Louis MSA. The community is operating at 95% occupancy and the current site rent is $350. The property is serviced by city water and a lagoon system. Currently, water is direct billed to the tenants. Sewer and trash are included in the lot rent. There 4 LTO's and 2 rentals that must be purchased along with the real estate. Furthermore, there are 20 homes that were financed through the 21st CASH Program. A new buyer will have to step into the liability position.

Location

95% Occupancy
Stable current cash flow and yield
9.54% CAP rate at asking price
Upside through rent increases, filling last vacant site and billing back for sewer
Newer homes brought into the community
15 miles to downtown St. Louis
Average household income within 1 mile $70K+

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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 90.0 %
Average MH Lot Rent: $350
Size: 5 acre(s)

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