Mobile Home Park Details

  • Purchase Method: Cash
  • Listing ID: 1584692
  • Posted On: Jan 12, 2022
  • Updated On: Jan 7, 2023

Description

Lot Rent Increased! Price reduced again! Bring your offers!

For sale is a turn-key investment opportunity. Completely hands-off with local Property Manager who has been running the park for years. Or manage yourself for even better returns! Many long term tenants and great demand whenever there is a vacancy. Recent renovations and large investment in sub-metering water utilities. All utilities setup for sub metering to tenants. Mostly tenant-owned or rent-to-own homes. The few park-owned could be sold to tenants as well. Still room to raise rents and tune up as value-add! Contact seller/owner for more information. For sale by owner. No Brokers. Make an offer.

Location

Within city limits of Manhattan, KS with strong demand for affordable housing.

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Park Information

Community Type: All Age
Number of MH Lots: 19
Total Occupancy: 100.0 %
Average MH Lot Rent: $300

Financial Information

Gross Income: $82,000
Operating Expense: $28,000
Net Operating Income: $54,000
Expense Ratio: 34.1 %

Lot Information

Singlewide Lots: 19

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $415

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