Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.7%
- Listing ID: 1356537
- Posted On: Nov 16, 2020
- Updated On: Sep 1, 2021
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.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
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 % |
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 |
