5.83 Acre MHP.... 46 Spaces.... 21 Park Owned MH …..Lot Rent $175 mo, Rents will increase to $200 around Jan, 2012 .....(15) Newer MH 1995 – 2006, Rents $550 - $700 …..(6) Older MH units divided into 11 duplexes $100 wk - $375 mo ….. (1) Coin operated washer/dryer …..Current Gross Rent $14,000 +/- mo …..RV and other expansions underway to meet demand for this fast growing area …..Gross rents will be estimated at $19,000 - $22,000 mo.,by 12/31/11 …..Asking price could increase upon completion, so Hurry and lock in price now with a down payment …..Park stays at 99% occupancy with exception of waiting on make ready and we normally have a waiting list with long term tenants …..Recently Hwy-146 was developed into a 4-lane Highway and park is situated just a few 100 yards from the Junior High School and downtown Dayton …..Residents have individually metered electrical & water and tenant pays own utilities with the exception of duplexes/RV, where the Landlord pays …..County has land appraised at $724,000 (LAND ONLY) …..Owner just sold another property ¼ mile from this location for $4.98 sqft …..The right-of-way just North of the park is future road development that would make this a 5.83 corner lot at the intersection of Hwy-146. This would increase value and expand use for this property …..Sewer system installed that cost around $90,000, 12-years ago …..Future or Possible use …..Option 1: Keep as is and increase rents …..Option 2: Sale/Lease to own the 15 Homes at $29 - 39,000 ea., $462,000 while owner financing/leasing these homes could generate $770,000+/- over the term of 10 – 12 years, not including lot rents. This would take out most of the repairs and upkeep and turnover of tenant’s, for
those that just want Lot rent income …..Option 3: Move all trailers from front of park to the rear then turn the Highway frontage into retail shopping
center or Office Warehouse, while maintaining the $20,000+/- projected HM rental income …..Option 4: Currently Dayton does not have any RV rental spaces in town, so this could be an opportunity to add 20 – 50 RV spaces while maintaining the MH Income …..Currently the park is only licensed for 46 units, so this option would need city approval.
