Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Property ID: 1521405
  • Posted On: Sep 26, 2021
  • Updated On: Oct 23, 2021

Property Description

-Call for Offers October 15th
-106 lot manufactured housing community
-70% occupied
-Upside in raising rents to market, filling vacant lot with proven CASH program and billing back water/sewer/garbage
-City water and sewer
-The listing broker is a principal owner of this property.

Location

-Located in the thriving 400,000 population market of the Quad Cities on the Iowa / Illinois border along the Mississippi River

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Park Information

Community Type: All Age
Number of MH Lots: 106
Total Occupancy: 70.0 %
Year Built: 1966
Average MH Lot Rent: $325
Size: 11 acre(s)

Financial Information (Pro Forma)

Gross Income $292,000
Operating Expense $111,000
Net Operating Income $181,000
Expense Ratio 38.0 %
Debt Info

Lot Information

Singlewide Lots: 106

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 31

Video

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