Contact Information

Dan Reece

Mobile Home Park Details

  • Price: $1,700,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.7%
  • Listing ID: 3657702
  • Posted On: Sep 7, 2023
  • Updated On: Sep 7, 2023


Value add and below market rents. Local banks willing to lend at 80% LTV. No rent raise in over 1 year. Perfect new park owner opportunity.

Both parks City sewer/water direct billed to tenants. One park with roads maintained by the city. Manager in place that can handle management of both parks for cost savings if needed.

64 total lots
53 MHs
33 POHs (10 RTOs)
20 TOHs
11 Vacant lots

Immediate upside (3-6 months):
1) rent raise across the parks $50-$75 which will still be under market (+$2.4k/mo)
2) 3 POHs vacant, rehab and rent/RTO at market rents (+$1.8k/mo)

For Sale By Owner


1 park in Augusta, KS
1 park in Burrton, KS


  • Storage
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Park Information

Number of MH Lots: 64
Total Occupancy: 83.0 %
Year Built: 1970
Average MH Lot Rent: $250
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income $246,000
Operating Expense $81,180
Net Operating Income $164,820
Expense Ratio 33.0 %
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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