Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.3%
- Listing ID: 1547492
- Posted On: Nov 9, 2021
- Updated On: Aug 31, 2022
Description
Courtside Plaza has 24 MH Lots, self-storage units , garage storage units, an auto shop, and a pump station on a 5 year lease. In the MHP, there are 16 Owner Occupied homes and 6 vacant lots.
New Storage Income added!
The lot rent in the MHP is $385.
Storage Unit Monthly Income $2,150
Utility monthly billback $1,568
Pumping Station monthly $1,350
Auto Shop $750
City Water/City Sewer
The ground lease on the pumping station expires 12/31/2024
Annual Gross Income $157,164
Location
Kankakee is a city in and the county seat of Kankakee County, Illinois, United States with a population of 25,988. It is 58 miles from Chicago, IL.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 24 |
| Total Occupancy: | 67.0 % |
| Year Built: | 1959 |
| Size: | 14 acre(s) |
Financial Information (Actual)
| Gross Income: | $157,164 |
| Operating Expense: | $77,005 |
| Net Operating Income: | $81,059 |
| Expense Ratio: | 49.0 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 16 |
| Average Rent for Park-owned Homes: | $380 |
