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Mobile Home Park Details

  • Price: $1,050,000
  • Property ID: 1426413
  • Posted On: Apr 21, 2021
  • Updated On: Sep 7, 2021

Property Description

CONTRACT FAILED! READY FOR NEW BUYER!

Beautiful trees and shade welcome you as you enter the centrally located Creekside Home Rentals in Heber Springs, Arkansas. This serene 48 pad, 14.3 acre park has extremely spacious lots, each separately metered for electric and gas. The park is served by multiple septic tanks, customary for the area. The tenants are separately billed for electric and gas and the park owner presently pays for water and trash service for the park.

Current owner purchased park recently after viewing it as a value-added opportunity. Since purchase owner has invested in remodeling many of the park-owned homes and has brought in new tenants after remodeling. Demand is strong in the area, with very little competition in the affordable housing market. Park owner has decided to sell to be able to spend more time closer to his single family rental units in another state.

Pad rental rates range from $300/month up to $700/month. There are 3 RV spots (RV's are park-owned) and 2 cottages located in the park that rent including utilities. All other rentals pay separate electric.

The park also has a large shop building complete with office and restroom, and four other storage shed areas in the park,

This location is minutes away from the charming downtown of Heber Springs and the beautiful, much visited Greers Ferry Lake.

Park is only approximately 60 miles from the state capitol of Little Rock, AR and is being offered for $1,050,000.

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

Park Information

Number of MH Lots: 48
Total Occupancy: 90.0 %
Average MH Lot Rent: $400
Size: 14 acre(s)

Financial Information (Actual)

Gross Income $215,082
Operating Expense $117,850
Net Operating Income $97,231
Expense Ratio 54.8 %
Debt Info

RV Information

Number of RV Lots: 2

Utility Information

Water: City
Sewer: Septic

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