Contact Information

Mobile Home Park Details

  • Price: $1,600,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 8.0%
  • Listing ID: 6726638
  • Posted On: Sep 12, 2024
  • Updated On: Nov 9, 2024

Description

Big Elm MHC is a quiet community that is near the Mississippi River with many long term residents. Some homes are under RTO to be purchased outright by the resident.

Overall the community is 80% occupied with current inventory. Demand is strong. Bring in more homes to fill up the empty spaces and you will really Cash Flow. Great Investment for experienced operator to Expand your Portfolio. Seller will finance property for 3-5 years.

Park Highlights:
87 spaces
33 TOH
9 POH
6 RTO- $600
3 Storage Facilities
35 Empty Lots
Lot rent currently $360
Low Taxes- $7500
City Water and Sewer (Resident Pays)
Low Expenses
Residents pay at Local Bank
20 Storage Units on Site
Manager lives onsite
Single Family Home Included

Text or email Matt for additional details
989-704-3454
Pilotinvestor135@gmail.com

Location

Savanna, IL

Amenities

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

Park Information

Community Type: All Age
Number of MH Lots: 87
Total Occupancy: 60.0 %
Year Built: 1970
Average MH Lot Rent: $360
Size: 18 acre(s)

Financial Information (Actual)

Gross Income: $186,000
Operating Expense: $30,000
Net Operating Income: $156,000
Expense Ratio: 16.1 %

Lot Information

Singlewide Lots: 88

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $600

Video

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