Mobile Home Park Details
- Purchase Method: Seller Financing
- Cap Rate: 11.0%
- Listing ID: 1231810
- Posted On: Mar 19, 2020
- Updated On: Oct 29, 2021
Description
1985 Build, 53-lots, 41-lots occupied, 8.46 acres +/-, Privately Owned Operated Permitted and Maintained sewer & water utility, operator off site, park has no responsibility for water or sewer, except park does maintain water and sewer lines within the park. The park pays a fixed amount of $5,440.00 per month for water and sewer to the utility operator.
Natural gas on site, city streets on three sides, paved interior roads and parking, timbered lots.
First Deed of Trust Seller financing considered to qualified Buyer.
$15,035 Current monthly rents as of July 2021 (annual rent income estimate $180,420)
53-lots total 41-lots with mobiles
6- Vacant Park owned homes need make ready to rent
12- Vacant lots (rent ready) several will hold 80-foot homes 3-will take RV's
20- Park Owned Homes
21- Privately owned homes paying lot rent
Location
Located in Pettis County, population 42,000, City of Sedalia population 22,000, the county seat. Sedalia is a rapidly growing city and is home of the MO State Fair. Average vacancy for rental property in Sedalia is 5%.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 53 |
| Year Built: | 1985 |
| Average MH Lot Rent: | $300 |
| Size: | 9 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $180,853 |
| Operating Expense: | $93,167 |
| Net Operating Income: | $87,425 |
| Expense Ratio: | 51.5 % |
Lot Information
| Singlewide Lots: | 51 |
| Doublewide Lots: | 2 |
RV Information
| Number of RV Lots: | 3 |
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $675 |
