Contact Information

Chuck Gray

ReMax Truman Lake

Mobile Home Park Details

  • Price: $2,100,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 13.5%
  • Property ID: 1342740
  • Posted On: Oct 19, 2020
  • Updated On: Dec 9, 2020

Property Description

Seller financing available to qualified buyer. See attached Executive Summary. Park consists of 12.6-acres +/-, 440 feet of frontage on W Quincy, outside city limits, zoned county commercial, 105-lots, 68-occpuiped, 52-park owned homes, 16-privately owned homes. asphalt roads, city water, 5-RV ready site level lots with 50/AMP service, sewer is a state approved Permitted Waste Treatment Facility located on site ran by an offsite licensed operator at a cost of $350.00 per month. See attached permit. 16 private owned homes, 52 park owned homes, 28 vacant lots, 5 RV lots, 4 miscellaneous lots (office, storage etc.) 105 total leasable lots


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Park Information

Number of MH Lots: 105
Total Occupancy: 85.0 %
Year Built: 1970
Average MH Lot Rent: $220
Size: 13 acre(s)

Financial Information (Pro Forma)

Gross Income $358,919
Operating Expense $142,812
Net Operating Income $283,427
Expense Ratio 39.8 %
Debt Info

RV Information

Number of RV Lots: 5
Average RV Lot Rent: $375

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 52
Average Rent for Park-owned Homes: $510

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