Contact Information

Dane Carlson

Southview Estates LLC

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, possible financing available, 25% down.

Mobile Home Park Details

  • Price: $449,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 14.0%
  • Property ID: 910707
  • Posted on Mar 17, 2018

Amenities

  • Storage
  • Handicap Accessible
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Park Information

Community Type: All Age
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

Map

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