Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.4%
  • Property ID: 1360531
  • Posted On: Nov 25, 2020
  • Updated On: Nov 25, 2020

Property Description

Block Real Estate Services, LLC (BRES) is pleased to present the opportunity to acquire the 100 percent fee
simple interest in Jayhawk Mobile Home Court. This Manufactured-Home Community is 1 of 5 parks within
the city limits of Lawrence, Kansas (Douglas County) and benefit the use of city water, sewer, storm, and
trash services. With Jayhawk Park being located within a large renter’s demographic, the occupancy has
consistently remained at nearly 100%. Within our marketing material you will see Jayhawk Mobile Home
Courts’ increased performance reflected by financial statements and analysis; as well as parcel analysis,
demographic material, detailed list of inventory, and photographs on site.

Location

Lawrence is a diverse and multifaceted city that provides many of the amenities of a large metropolitan area,
while still maintaining a strong sense of community. Located along I-70 in northeastern Kansas, Lawrence
is just 45 minutes west of Kansas City, and 30 minutes east of Topeka, the state capital. Lawrence offers a
rich and fascinating history, a wide range of exciting cultural experiences, nationally recognized educational
institutions, and some of the most unique and enjoyable shopping opportunities in the Midwest. The city of
Lawrence’s population was estimated to be about 97,000 people in 2018.

Amenities

  • Laundromat
  • Storage
  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 43
Total Occupancy: 98.0 %
Average MH Lot Rent: $350
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income $345,876
Operating Expense $159,866
Net Operating Income $204,214
Expense Ratio 46.2 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 41

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