Contact Information

Mobile Home Park Details

  • Price: $100,000
  • Cap Rate: 5.7%
  • Listing ID: 4365726
  • Posted On: Jan 31, 2024
  • Updated On: Feb 6, 2024

Description

This property consists of 11 pads located in Chappell, NE. The property offers various avenues for upside including lot rent increase, minor infill, and utility bill back.

This property has seven long term tenants, offering an easy transition for new ownership. The property would be a great opportunity for a
newer manufactured housing community investor or an easy addition
to an experienced investor's portfolio.

By billing back water and raising lot rents closer to the market rate in
the short term, new ownership can more than double the current CAP
Rate within the first year without the need for infill. This community
offers a unique ability to quickly appreciate the property with minimal
investment.

Location

Chappell is a village on the Nebraska/Colorado border and is the
county seat of Deuel County, NE. Chappell has a population of 850
residents, and Deuel County has a total population of 1,850.
Employers in the area are mainly centered around agriculture,
health care, and government agencies.

Chappell, NE is located just off of I-80, and is 45 minutes west of
Ogallala, NE.

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

Park Information

Number of MH Lots: 11
Total Occupancy: 64.0 %
Average MH Lot Rent: $135

Financial Information (Actual)

Gross Income: $11,340
Operating Expense: $5,611
Net Operating Income: $5,729
Expense Ratio: 49.5 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $135

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