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.
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 |