Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 20.0% (Actual)
- Listing ID: 476310
- Posted On: Oct 10, 2014
- Updated On: Nov 17, 2016
Description
16 x Lots
1 x House 2 bed 1 bath
1 x Detached Garage with Partitioned Park Storage
8 x RV Slots (Uses 4 lots)
3 x Open lots with full hookups
Many old growth trees to break up Kansas wind and provide shade.
Big Upside. The 900 Sf house was also entirely remodeled, including bathroom tub, new shower and water softener. All lots are 45x150 feet Residents pay all their own utilities. LOCATION: Approx. 254 miles from Denver. Population 2,500 people. The Property is located right accross from the Hospital. This is a beautiful community, well maintained and kept up. FINANCIAL: There is huge rent upside. With the 7, currently vacant lots, one could easily achieve a 34% cash on cash with an 20% cap. Current income provides for a positive return. Property is currently 70% occupied with huge upside. 3 of the spaces had always been open -owner's choice. Owner wishes to exit due to financial reinvestment.
All lawn maintenance equipment and repair materials are included.
Empty units usually fill within a month. RV park is busy throughout late spring to early fall.
Oil deposits have been found under the park and mineral rights will be possible once the cost of oil recovers.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $325 |
| Size: | 0 acre(s) |
Financial Information (Actual)
| Gross Income: | $20,000 |
Lot Information
| Singlewide Lots: | 16 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 8 |
| Average RV Lot Rent: | $500 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $325 |