Contact Information

Jon Fisher
License: 471.020503 (IL) 18000549 (IN) 117228 (SC)
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Mobile Home Park Details

  • Price: $225,000
  • Purchase Method: Cash, New Loan
  • Listing ID: 3970694
  • Posted On: Nov 9, 2023
  • Updated On: Feb 16, 2024

Description

Virden Village MHP is a 10-pad mobile home community located on just over 1.00 acre on the SE corner of Virden, IL. In addition to the 10-pads in the park, it also includes a stick-built duplex (for a total of twelve units). The park was believed to have been developed approximately 50 years ago and has served the community by offering an affordable housing option since that time. The city of Virden has no zoning but they do have a MHP ordinance. Any new trailers brought into the park must be newer than five years old. The park is not believed to be in a flood zone (FEMA flood maps show no data available). The park is presently self-managed by a local owner who has owned the property for 31 years. The park hires local contractors as needed for repair & maintenance needs.

The size of the pads were not provided by the seller. All ten pads are occupied by park owned trailers. There are currently four vacant homes. The six occupied homes average rent varies between $425 to $585 per month (rent has not been increased to long-term tenants). The owner mentions that many of the trailers have been updated (plumbing, electrical, appliances, flooring). The park utilizes month-to-month leases for its residents. Currently there is one tenant who is behind in rent, however that tenant has now paid double-rent for the last five months. The tenants currently pay their rent by mailing a check or money order to the owner's PO box.
The lot rental rates for a nearby communities starts at $310/month and goes up from there.

CITY WATER & CITY SEWER!!! The underground pipe material is PVC and was replaced approximately twenty years ago. The size of the electrical pedestals was not provided but the owner says that they have been "updated". Residents are direct billed for their water, electricity, & gas with no back-billing. The park pays for garbage. The park utilizes city maintained roads that are blacktop (main road) and a combination of asphalt & gravel driveways which the owner classifies as being in good condition. The park mows the entire park and also pushes snow as needed.

The park also comes with a pair of vacant lots across the street to the east of the park, and behind the back alley on the west side of the park. Due to the MHP ordinance enacted by the city of Virden those lots can never have trailers on them. They can be sold for single family residences. Duplexes or triplexes could also be build on these lots and that would be the recommendation of the listing agent to maximize revenue.

Location

Virden is located:

25 miles south of Springfield, IL
64 miles southwest of Decatur, IL
80 miles northeast of St. Louis, MO
231 miles southwest of Chicago, IL

Virden is a city in Macoupin and Sangamon counties in Illinois. The population was 3,231 at the 2020 census.

The Macoupin County portion of Virden is part of the St. Louis, Missouri–Illinois Metropolitan Statistical Area, while the Sangamon County portion is part of the Springfield Metropolitan Statistical Area.

The median rent for a two-bedroom apartment in Virden is $770/month.

The median home price is $86,000. Home appreciation the last 10 years has been 6.4%.

Virden has an unemployment rate of 5.0%. The US average is 6.0%.

Virden has a cost of living index of 78.9%.

Sangamon County is a county located in the center of the U.S. state of Illinois. According to the 2020 census, it had a population of 196,343. Its county seat and largest city is Springfield, the state capital.

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 67.0 %
Average MH Lot Rent: $400
Size: 1 acre(s)

Lot Information

Singlewide Lots: 10
Park Model Lots: 2

Utility Information

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

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