Contact Information

Mobile Home Park Details

  • Price: $2,450,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.7%
  • Property ID: 1356537
  • Posted On: Nov 16, 2020
  • Updated On: Nov 16, 2020

Property Description

Lakin Brokerage is pleased to present St. Joseph's MHP, a wonderful community in the bustling town of Cuba Missouri. The property offers a turn-key investment. Demand is high, utilities are provided by the city and there is excellent upside.

Location

Cuba has a median home price of approx. $154,000 and income is $34,000. It is approx. one hour from the St. Louis suburbs.

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Park Information

Community Type: All Age
Number of MH Lots: 48
Total Occupancy: 95.0 %
Average MH Lot Rent: $250
Size: 11 acre(s)

Financial Information

Gross Income $330,600
Operating Expense $92,628
Net Operating Income $237,972
Expense Ratio 28.0 %
Debt Info

Lot Information

Singlewide Lots: 48
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: 43
Average Rent for Park-owned Homes: $250

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