Contact Information

Mobile Home Park Details

  • Price: $1,500,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 1356478
  • Posted On: Nov 16, 2020
  • Updated On: Nov 16, 2020

Property 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.

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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 %
Debt Info

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

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