Valley MHP is a 16-pad manufactured housing community located in Macomb, Illinois. The property sits on 1.79 acres and is zoned MHP. Originally developed in the 1970s, the park has been under current ownership for ten months and was purchased with the intention of stabilizing the asset and subsequently selling it. The community is not located in a flood zone and offers strong fundamentals with municipal utilities, offstreet parking, and no immediate home removal needs.

The park is currently 62.5% occupied, with 10 tenant-owned homes and no park-owned homes. All 10 tenants pay below market rents of just $250 per month (significantly under market rates), and the most recent rent increase occurred two years ago. There are no vacant homes in the park, and all six vacant pads are suitable for installation of new homes. None of the existing homes require removal. Three tenants are currently behind on rent, and rent payments are made through Cash App or the community’s Tenant Portal.

Valley MHP benefits from an on-site resident manager as well as a resident maintenance technician, supporting efficient day-to-day operations. The community provides off-street parking, and tenants are responsible for mowing their own spaces. The owner provides snow removal as needed. The roads throughout the property are a mix of gravel and paved surfaces, considered to be in “decent” condition, and are maintained by the city.

The park is connected to city water and city sewer services. Water is master-metered, with the owner currently paying the water bill. Each pad has individual electric and gas meters, with tenants billed directly by the respective utility providers. The electrical pedestal amperages are unknown. Underground water and sewer lines are believed to be PVC Schedule 40. The park also provides garbage collection at ownership expense.

Valley MHP offers a value-add opportunity through lease-up of vacant pads, rent increases, and utility bill-back potential. All vacant pads are immediately usable for new home placements, and operating expenses are kept manageable through tenant paid utilities and city-maintained roads. The seller is open to providing seller financing, with terms to be negotiated.