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Address is 601 East 1800 Avenue Vandalia, IL 62471

Dane Carlson

Southview Estates LLC

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Southview Estates

Mobile Home Park for Sale in Vandalia, Illinois

601 East 1800 Avenue
Vandalia, IL 62471

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Sale Price: $499,999

Contact Information

Dane Carlson
Southview Estates LLC

Mobile Home Park for Sale

Number of MH Lots: 27
Size: 8 acre(s)
Cap Rate: 14.0%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 910707
Posted on: Mar 17, 2018
Updated on: Sep 21, 2018
Price: $499,999

Property Description

Turn-key profitable mobile home park in Vandalia, IL, priced to sell. 27 spaces (8 need to be developed), with 19 park owned homes with a possible revenue of $99,000 annually. Huge investments over the last few years: City water 2017, aeration systems, new roofs, and added trailers. Cash on Cash return at 55%. This is a perfect opportunity for a seasoned investor or a retirement opportunity with cash flow. The 19 homes typically run at about a 95% occupancy rate. There is a waiting list to get into this park. This is a very well groomed park with many 3BD, and 2 Baths in the park. Lots of land to expand as well. Excellent managers are on site and handle about 90% of all repairs/maintenance. Please call 314-422-2726 for more information. Only serious inquiries. Cash/New loan only, no financing available.

Park Information

Number of MH Lots:27
Total Occupancy:100.0%
Year Built:2004
Average MH Lot Rent: $435
Size:8.0 acre(s)

Financial Information (Pro Forma)

Gross Income$99,000
Operating Expense$26,000
Net Operating Income$72,432
Expense Ratio 26.3%
Debt Info

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes:19
Average Rent for Park-owned Homes: $435

Amenities and Other

Storage: Yes
Handicap Accessible: Yes