This park is a heavy value-add with a major infill component. The vacant lots have infrastructure in place (city water, individual septic’s for each lot, and direct billed public electric) and are ready for homes.
The park has 97 lots with 18 lot rent only tenants paying a lot rental rate of $170 per month. Lot rent is below the market rate of $230-$275. There are 79 vacant lots and current occupancy is 19%.
Treeside Mobile Home Community is a year-round, all-ages community and has city water that is billed back to the tenants. The community uses a 1:1 septic system with the exception of 6 lots, and the landlord is responsible for all septic repairs and maintenance. There are 0 park owned homes. The privately maintained roads are gravel and in good condition. The park is NOT in a flood zone.
The park is being offered as a heavy value-add investment with significant infill opportunity and below market lot rents. We are seeking cash offers as financing will not likely be available, for the exception of hard money.