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Address is 1401 N 3rd Street Riverton, IL 62561

Julie Teitelbaum

Sunstone

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2 PROPERTY PORTFOLIO- 182 SPACES- CENTRAL IL

Manufactured Home Community for Sale in Riverton, Illinois

1401 N 3rd Street
Riverton, IL 62561

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Sale Price: $6,338,200

Contact Information

Julie Teitelbaum
Sunstone

Mobile Home Park for Sale

Number of MH Lots: 182
Size: 17.2 acre(s)
Status: Active
Property ID: 917838
Posted on: Apr 10, 2018
Updated on: Apr 10, 2018
Price: $6,338,200

Property Description

Sunstone is pleased to exclusively offer for sale Lucky Horseshoe & Gaslite Senior MHC. The properties are located ten miles apart in Riverton and Springfield, Illinois and contain 182 developed home sites, a house, and 2 apartments. City water and sewer utilities are billed to the residents at Gaslite and direct billed by the city at Lucky Horseshoe. Trash is included in rent. Rent increases 2018 will be $25 starting 10/1 at Gaslite and $10 starting 5/1 at Lucky Horseshoe.

-City water & city sewer at both properties - individually metered and billed back at Gaslite & direct billed by city at Lucky Horseshoe
-Village of Riverton is responsible for streets, water, & sewer lines at Lucky Horseshoe
-Gaslite rents currently below market
-Lucky Horseshoe upside through filling vacant sites and potentially developing more sites in center of community
-In-place financing with $3,194,933 balance, 4.3% rate, 1/16/2025 maturity can be assumed or defeased

Park Information

Number of MH Lots:182
Total Occupancy:84.0%
Year Built:1968
Average MH Lot Rent: $293
Size:17.2 acre(s)

Utility Information

Water:City
Sewer:City