Contact Information

Mobile Home Park Details

  • Price: $315,000
  • Cap Rate: 10.4%
  • Property ID: 1394574
  • Posted On: Feb 17, 2021
  • Updated On: Feb 17, 2021

Property Description

The Colliers Manufactured Housing advisors are pleased to present the opportunity to acquire Scott City MHC, a 19 site Manufactured Home Community located in Scott City, Missouri.

Located in southeast Missouri and boarding southern Illinois and western Kentucky, Scott City has over 100,000 residents within a 20 mile radius and an impressive median home price of $143,000. Additionally, home values have increased 6.8% since 2010. Retail shopping options such as a Walmart Supercenter and the West Park Mall is about a 10 minute drive time to the north in Cape Girardeau, which is home to Southeast Missouri State University and Century Casino, which is located on the Mississippi River.

Built in 1970 on 1.73 acres not far from the center of town, Scott City MHC is an all aged community that has a desirable utility infrastructure system. All utilities are billed directly to the residents; the city bills residents for water, sewer and trash and Ameren Missouri provides the residents with electric and natural gas. The community has paved asphalt roads which are maintained by the community owner and three sites (#20, #21 & #22) are in flood zone AE (100 year flood zone). Lastly, there’s an on-site manager/maintenance person that collects rents and is capable of completing minor maintenance.

A new operator can immediately increase gross income by renovating and leasing six existing inventory homes which would gross over $37,000 ($17,000 in site rent and $20,500 in home rent).

Location

• All utilities are billed back to residents
• City water, sewer and trash
• Ameren Missouri electric and natural gas
• Local Walmart Supercenter and West Park Mall less than 10 minutes from community
• 53% Economic Occupancy | 89% Physical Occupancy
• Boost income by renovating and leasing six existing homes
• Experienced on-site manager/maintenance is familiar with the community operations

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 19
Total Occupancy: 89.0 %
Year Built: 1970
Size: 1 acre(s)

Financial Information (Pro Forma)

Net Operating Income $32,676
Debt Info

Utility Information

Water: City
Sewer: City

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