Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.8%
  • Listing ID: 4001085
  • Posted On: Nov 16, 2023
  • Updated On: Dec 28, 2023


To view video of the 34 Lots/Homes, slides of City Scenes, and 3 Rehab Examples, go here to view our playlist:

About Monmouth Manufactured Home Community (MMHC - WEST)
(All Ages Park)
Located 12 miles West of Galesburg, IL and 30 miles North of Macomb, IL, home of (W.I.U.) and between the Quad Cities & Peoria, IL, at 45 miles either way on I-74.
34 lots with 2 parking spaces per lot. No on-street parking overnight. Reasonable sized lots.
On-site Persons, in MMHC - WEST, act as the “eyes and ears” of MMHC for us. The best Lot Rent solution is to have the Lessees pay Lot rent directly to a Local Bank; and then monitor payments online.) NOTE: This is how we operate our Banking at our Park, in Galesburg; Lessees pay directly at “our” local in town bank.
This park has all the MAGIC INGREDIENTS, as follows:
Homes are tenant owned.
Lots are to be mowed weekly by lessees . (Our Rules allow us to force mow if needed); a clean well-maintained park.
Tenants pay all utilities to City and Public Utilities; (no utility billing or collecting)
The City owns and maintains the streets, including: snow removal; The City also runs street/gutter washer-machine on streets. The City owns and maintains the main sewer and main water lines. The City vacuums up leaves at the curb in the fall.
Waste hauler provides the individual garbage containers; the “cans” are picked up at the curb. Lessees pay their garbage bill and their water and sewer bill, directly to the City. We have a 24 hour rule; Garbage cans at the curb on Wed. evening, and returned to one’s home by Thurs. evening.
Well-maintained homes; U.S. mail delivery to their mailboxes.
Well-operated; efficient, with strict rules and regulations which are enforced: Re: for aesthetics, safety, and a more enjoyable living atmosphere.
Well-located; (in a community with demand for affordable housing.) Monmouth is the County Seat for Warren County; a great convenient asset with several other Government Agencies located here.
Farmland Foods, huge employer (Approximately 2,000 employees). Several of our lessees work there.
The beautiful Monmouth College Campus is located across town. (more employment opportunities)
A Park with very low expenses, with a good income, for a small Park.
We manage with an “Iron Fist” covered by a “Velvet Glove” e.g. we are strict on our rules enforcement; we enforce almost entirely by mailed Notices, in order to lower the emotional aspects of the enforcement.
A Turn Key Operation, with a successful management system;
* (For any busy person, this would seem to be a nice investment.)
Whomever buys this Park will reap the benefits of our very costly new infrastructure & rehab project; and a rejuvenated Park! Our management system has over the past several years literally Changed the Culture of this Park!
*The services provided by the City, are phenomenal investor’s assets, regarding EXPENSES. IT IS EXTREMELY RARE!

Interesting Info: Whomever buys this Park, MMHC- WEST, will receive the 1st right of refusal on our MMHC - EAST, if requested. Also, we know the people and we know the Area well. We are helpful people by nature, and by education & training; any questions call us any time!


Located within Monmouth, IL.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 95.0 %
Year Built: 1970
Average MH Lot Rent: $400
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $153,600
Operating Expense: $39,953
Net Operating Income: $113,646
Expense Ratio: 26.0 %

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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


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