Contact Information

Mobile Home Park Details

  • Price: $300,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 1487334
  • Posted On: Jul 30, 2021
  • Updated On: Oct 21, 2021

Property Description

This mobile home park features 36 lots, 17 of which are occupied by tenant owned homes. Two double wides, and one single wide park owned homes will be included in the sale. The property is served by a septic and well system. Main lines for the water and sewer are PVC plastic, and a newer chlorine injection and pressure system was added within the last several years. The owner currently pays for electric for the lift stations and well pump, with tenants paying for all other utilities directly. Tenants are also responsible for their own lawn care and snow removal.

Location

The property sits just north of the City of Hutchinson, KS (Population 40,000+) and the park is roughly an hour from downtown Wichita. Hutchinson is the county seat of Reno county and offers job diversity with companies like Morton Salt, multiple regional banks, and a highly diverse manufacturing industry. Parks in the city of Hutchinson are currently charging up to $350 for lot rent, providing a new owner of Western acres with a large amount of upside.

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Park Information

Number of MH Lots: 36
Average MH Lot Rent: $175
Size: 7 acre(s)

Financial Information (Actual)

Gross Income $34,200
Operating Expense $21,000
Net Operating Income $13,300
Expense Ratio 61.4 %
Debt Info Owned free and clear

Lot Information

Singlewide Lots: 34
Doublewide Lots: 2

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3

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