Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $3,200,000
  • Property ID: 1425236
  • Posted On: Apr 19, 2021
  • Updated On: Jul 26, 2021

Property Description

– The park features a playground, off-street parking, and shaded
trees throughout. The roads in the park are in good condition
having been resealed in 2017.
– The homes are individually metered for water with a solid
recapture rate in 2020 of around 75%.
– Current lot rents at Rolling Meadows MHC are $245 while a
similar nearby community charges $275. This provides a new
owner with room to increase revenues by raising rents.
– The offering includes 40 park-owned homes, of which 39
(97.5%) are occupied averaging $403 for the home rent portion.
The property has eight vacant sites, which will need some work
to be home ready, allowing a new owner the ability to increase
occupancy by bringing in new homes or filling the sites with
tenant owned homes. Economic occupancy has gone up by 14
sites (or 14% increase) from early 2019 to March 2021.
– There is a tremendous amount of demand for affordable housing
in the area. Within a one-mile radius of the community, the 2020
household income average was nearly $92,000 with average
home values of around $161,000.

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Park Information

Number of MH Lots: 102
Size: 48 acre(s)

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