ASR, Inc. Owner of record of Ferron Creek Village (FCV) Manufactured Home Community has exclusively engaged James M. Burgess of The Burgess Company to confidentially solicit offers for the purchase of a, 51 space mobile home/RV park, with a recreational and storage (fenced & gated) area and inclusive of six park owned manufactured homes and one home sold on contract, located in the incorporated city of Ferron, Utah.

Historically, Ferron was a bedroom community for the coal industry; now it is a tourist draw (kinda a small Moab) as the gateway to the San Rafael Swell recreation area (see following links):

https://utah.com/san-rafael

https://www.fs.usda.gov/recarea/mantilasal/recarea/?recid=72824

https://livability.com/ut/ferron/business

located approximately 160 miles south of Salt Lake City and 42 miles from Price, Utah. Ferron has the Millsite Reservoir and the Millsite Golf Course, one of the better state sponsored courses. FCV is located at 630 South State Street, and is built upon approximately 9.32 acres of land.

FCV is offered at its present 13 Tenant income occupancy "as-is" at $450,000(7.1% cap as-is) inclusive of six park-owned-homes (P.O.H), six tenants leasing improved spaces, and one home sold on contract with the upside of 38 unoccupied improved spaces.

Spaces are leased at $165/month with Owner responsible for Water, Sewer, and Trash and Tenant responsible for separately metered electricity and gas. The park has asphalt roads and is connected to city water, sewer, and secondary water. Owner leases manufactured homes at $490 to $550/mo. inclusive of space rent. Most P.O.H. leases are for a two year period and space is leased for one year. The manufactured home on contract was sold for $36,000 in 2015, on terms of $1,000 down payment, $35,000 original balance amortized 360 months at 10% interest resulting in a monthly P&I payment of $307.15/mo. 1st monthly payment was made 8-15-2015 and approximately contract balance is $34,453.43.

With no new homes being built, there is a demand for housing in Ferron, Owner advises there is no problem renting 2 bedroom manufactured homes in the $490 to $550 range and has a waiting list for Tenants desiring to lease. Owner acknowledges that he has never worked to fill or effectively manage the property.
NOI increase investor capable of bringing in parked owned for rent vs. escalating space rent.

At $450,000, Ferron Creek Village is attractively priced for Investors and 1031 candidates providing a 7.1% return on investment "as-is" at current 13 space occupancy. In addition FCV provides substantial up-side in occupancy and economic return to that Investor/1031 candidate motivated to procure manufactured homes to meet the aforementioned pent-up demand for housing.