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Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 9.0%
Listing ID: 988469
Posted On: Sep 11, 2018
Updated On: Dec 5, 2023

Description

Offered for sale are three mobile home communities, located in Central Missouri. The properties provide very attractive housing options to their residents, based on the quality of management, property reputations, and the condition of the properties. There is little or no deferred maintenance at these properties for the next owner to deal with. Current ownership has been able to increase rents and occupancy across the portfolio.

Location

Southway Terrace and O-Road Park Place are located in the Lake of the Ozarks area, a beautiful locale in Missouri, with a huge influx of tourism for the lake itself, as well as nearby golf courses. With 1,150 miles of shoreline and over 124,000 permanent residents, this lake is the economic center of the region, for both tourism and permanent residents.

Prospect MHC is located in Aurora, Missouri, about 30 miles southwest of Springfield, Missouri. Aurora is home to 7,720 residents, and has a stable economic base, diversified across several manufacturing companies and healthcare employers. Notable retailers in Auoroa include Wal-Mart Supercenter, Starbucks, and Sutherlands Lumber.

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