These properties offer a new owner the opportunity to purchase 62 lots within the same geographical area, and upside through infill of the properties. Currently there are 28 occupied homes with a remaining 32 sites to be filled. Given the properties proximity to Wichita, and the surrounding metros, there is a good demand for affordable housing in the area. A new owner can also raise lot rents to market value over time and infill the properties gradually for increased income.

Lot Rent Comps:

Bluestem Village Leon, KS/Wichita MSA: Lot rents range from the Mid $300s to Low $400s for similar properties.

Hartford MHP: Hartford,KS/Emporia MSA: Market Lot rents are between the Low to Mid $200s

Blue Sky Village: Nickerson,KS/Hutchinson MSA: Market Lot Rents range from the high $200s- Mid $300s for similar parks

Local Management

Each property has a local manager in place, making this an easy transition for both local and out of state owners. One manager lives in the Leon property and is compensated with free lot rent. They are responsible for managing both Leon and Hartford.

A second manager lives off site in the Nickerson area and is paid $100 monthly to read meters for bill back, is paid $275 per mowing, and is paid $12 an hour as needed for additional work.

OM Link: https://property.creop.com/Portfolio/NCYM2BOF/