Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0% (Actual)
- Listing ID: 1356478
- Posted On: Nov 16, 2020
- Updated On: Sep 1, 2021
Description
Lakin Brokerage is pleased to present Sycamore MHP in Sullivan Missouri. This park offers consistent earnings, city utilities, and great upside. There is significant demand for affordable housing. This park is being sold with St. Joseph MHP in Cuba, MO.
Location
Close to shopping, schools, and restaurants including a Super Wal-Mart across the street.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 49 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $217,080 |
| Operating Expense: | $68,398 |
| Net Operating Income: | $167,882 |
| Expense Ratio: | 31.5 % |
Lot Information
| Singlewide Lots: | 49 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 33 |
| Average Rent for Park-owned Homes: | $245 |
