Contact Information

Mobile Home Park Details

  • Price: $910,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 1681376
  • Posted On: Jun 1, 2022
  • Updated On: Jun 15, 2022

Property Description

Well established 41+/- acre mobile home park in Eclectic "Whispering Timbers". There are 25 total lots set up with 9 park owned homes, 2 of which are campers ,one is a site built cottage with the remainder being manufactured/mobile homes. The park also has a storm shelter large enough to hold everyone in the park. The storm shelter has a cell booster, a TV antenna, 2 fresh air intakes and 2 air exits as well as french drains all the way around the shelter. It also features a restroom area and is wired for a generator. There are 3 wells on the property which supply water to the entire park. There is also a storage area for materials etc. on the property that the owner calls the "garage". All lot rents (excluding one) are going up to $275.00 at their anniversary date, all camper rents are going up by $25.00 at their anniversary date and all park owned home rents are going up to $600.00 on their anniversary date. Some have already been raised. By the end of 2022 all rent increases will be in effect and tenants have been made aware. The park has been meticulously maintained by the current owner for more than twenty years. There are gravel roads throughout the property with culverts, riprap and drains where needed. There are markers in place with lot numbers visible. The mailboxes are together in one location near the park entrance and are built to postal standards. There is a common dumpster for tenants near the park entrance as well. This is a beautiful mobile home park with a great track record and long term tenants already in place. There is room for further expansion of more mobile home lots or even an on site self-storage facility. The possibilities are endless. Photos have lot #s in the bottom left corner and can be compared to the aerial photo that is numbered. This property can be shown by appointment only!

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Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 96.0 %
Year Built: 1997
Average MH Lot Rent: $275
Size: 41 acre(s)

Financial Information (Pro Forma)

Gross Income $113,520
Operating Expense $11,500
Net Operating Income $102,020
Expense Ratio 10.1 %
Debt Info N/A

Lot Information

Singlewide Lots: 23
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $450

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $600

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