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3 MHP PACKAGE - WICHITA AREA Wichita, KS

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 18.0%
  • Listing ID: 417267
  • Posted On: Dec 4, 2013
  • Updated On: Nov 6, 2014

Description

Three Mobile Home Parks all within 10 mile radius of each other. Approx. 20 minutes from Wichita. 93 Total lots. A few RV lots. 12 Park owned homes selling on Rent to Own Contracts. Lot Rent $150.00 - $190.00. All parks on City water.Two on City Sewer. One has Lagoon. Two Parks paved. One Gravel. Low overhead and maintenance with owner/operator.

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Park Information

Community Type: All Age
Number of MH Lots: 93
Total Occupancy: 66.0 %
Year Built: 1975

Financial Information

Gross Income: $166
Operating Expense: $34
Net Operating Income: $132
Expense Ratio: 20.5 %

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $250

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