INVESTMENT OPPORTUNITY - Cap Rate 10% on Proforma NOI, plus value of 4.5 acres additional land ready for development. Friendly Prairie and Friendly Prairie South. Beautiful rural location mobile home park, plus 240 to 380 square foot small home rentals on 21-acres in Johnson County, Missouri, located on Business Highway 13 approximately 1.5 miles south of the City of Warrensburg. Friendly Prairie is a 17 Lot mobile home park. Friendly Prairie South is a 12 Lot Small Homes development.

Friendly Prairie consists of: 1 Lot with Modular Home; 4 Lots with Mobile Homes; 2 Vacant Lots; 1 Lot w/Tenant Owned Home; 1 Lot with Duplex; 8 of the 17 total lots are privately owned and connected to the wastewater system.

Friendly Prairie South consists of: 10 Lots with Small Homes; 1 Lot with Single Family Home; 1 Undeveloped Lot and 4.5 Acres of Undeveloped Land suitable for expansion to generate additional income. Price is based on a 10% cap rate of Proforma NOI, plus the value of the approximate 4.5 acres of undeveloped land.

Monthly rental rates range between $600 and $1,000. Occupancy is currently at about 83% and improving. At this occupancy total monthly rent calculates to $11,300. A sewer fee has recently been implemented, which will increase annual income by approximately $5,700.

Electric and water utilities are public. For wastewater, the property has a 3-cell lagoon system, with a new lateral field under construction.

Being offered separately for $150,000 is an adjacent 1.56 acre land tract with highway frontage ready for development – possibly for commercial use or multi-tenant housing.

There is partial management on-site, making ownership semi-passive in nature. This opportunity offers potential for growth and immediate cash flow. The seller wishes to retire and is ready and motivated to sell.