Park from the South looking North, Walking Trail on the West

Park looking South from the North, Walking Trail on the West

Park from the North Looking South with City Park in the Background

Park looking west, Frontage Road is Commercial Street, Walking Trail in Back

Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 15.0%
Listing ID: 1908095
Posted On: Oct 13, 2022
Updated On: Jan 13, 2023

Description

This State Certified El Paso Mobile Home Park has 18 Total Sites, 13 Mobile Homes are Owned by the Park, 4 are Individually Owned and pay Lot Rent Only. Great Location-backs up to Walking Trail only two Blocks from South Pointe Park. All mobile homes have their own Meters for Water, Sewer, Gas, and electric. Park Owners pay for Garbage, Mowing and Snow Removal.
1.21 acres in a little farming community called El Paso, IL. The park was developed in the 1960's or early 1970's and has served the community by offering an affordable housing option since that time. The property is zoned Multi Family, The park is not located in a flood zone.

Of the 13 Park Owned Units rents range from $325 to $400 mo. 4 Units pay Lot Rent Only at $175 mo. One Open Lot at this time.
There are currently zero tenants behind in their rent.

PUBLIC WATER & SEWER! The El Paso MHP is on city water & city sewer! Residents are direct billed for water, electricity, & gas by the utility providers. Garbage is built into the lot and home rent. The roads are maintained by both the park and the city. The tenants mow their own pads and the park mows the common areas. The park utilizes a 3rd party vendor to push snow as needed.