Contact Information
Craig Henninger
Mobile Home Park Details
- Price: $2,099,000
- Purchase Method: Cash, New Loan
- Cap Rate: 10.2% (Actual)
- Listing ID: 6700257
- Posted On: Aug 20, 2024
- Updated On: May 12, 2025
Description
10.2% CAP Rate - well managed unique 51-space manufactured housing community located in Central Illinois. Within the Champaign-Urbana Metropolitan Area. The community has easy access to Interstate 57, making it a convenient location for residents.
The community includes a variety of housing options, with a mixture of tenant-owned homes and available lots. The community covers 7.15 acres and offers amenities such as paved streets and off-street parking.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 51 |
| Total Occupancy: | 92.0 % |
| Average MH Lot Rent: | $281 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $266,796 |
| Operating Expense: | $52,238 |
| Net Operating Income: | $214,557 |
| Expense Ratio: | 19.6 % |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 15 |
| Average Rent for Park-owned Homes: | $889 |
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