Contact Information

Mobile Home Park Details

  • Price: $1,500,000
  • Cap Rate: 8.0%
  • Property ID: 1671934
  • Posted On: May 18, 2022
  • Updated On: Jun 23, 2022

Property Description

Listing Broker : Paul Schaaf
Contact Paul Schaaf : +1-678-932-0200
FAULKNER COUNTY, AR - The MHP Broker is pleased to offer the sale of HWY 365 Mobile Home Park. Residing five miles South of Conway, Arkansas, and adjacent to I-40, the property provides easy access to schools, healthcare and retail. Current ownership has done a fantastic job of improving operations, and deployed nearly $100,000 in capital expenditures to infrastructure and homes.

This stabilized park is fully-occupied, consisting of 28 Park-Owned Homes (POH) and 1 Single-Family Home, situated on a total of 7.68 acres. Current rents average $663/month, and market data analysis suggests an average home rent of ±$725 is achievable. Most of the homes were manufactured in 2005 and refurbished with updated flooring, HVAC, appliances, and underpinning.

The property utilizes City Water and Sewer, that is master-metered, but could be sub-metered to decrease expenses significantly. The Seller spent $8,000 on cleaning and replacing lines, so the system operates well. The roads throughout the park are gravel and in good condition, with over $9,000 in capital improvements completed last year. An off-site manager currently handles day-to-day operations and is willing to continue employment under the new ownership if desired.

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Park Information

Number of MH Lots: 29
Total Occupancy: 100.0 %
Size: 8 acre(s)

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 28


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