This is one of the few MH Parks in the city limits of Yankton. (14,000+ population) We are on North Broadway Avenue (US Highway 81 & SD State Highway 50 & SD State Highway 52). We are located in the fastest developing part of town. We are across the street from a municipal golf course, a specialty surgical hospital, a new city play ground, a Sears store, a new Super Wal-Mart. Next door, there is a new hardware store on one side and a new car dealership on the other side. There is a new Menards Lumber store a block and a half north of our location. These businesses have recently relocated to this area of town, which has brought civic development at a staggering rate.

There are 50 services with room for expansion located on an 8 + acre commercially zoned property. Each service has hook-ups for natural gas, electricity, city water/sewer and two cable TV companies that also provide internet services.

Also located on the property is a 40' X 140' Butler building with office space, waiting room w/front counter, a parts room and work area in ½. The other ½ is available for all purpose or cold storage. Each ½ is metered separately for electricity, making it easier to rent to two separate tenants.

There are, to date, 32 owner occupied mobile homes. We recently increased the lot rent from $150 to $175 per month. This translates to a $9,600 a year increase that is not reflected in the numbers below. Two of the mobile homes were recently purchased from us on a contract for deed. These combined CFD payments also reflect an annual increase in income of $6,033.96.

Except for garbage pick-up service, all tenants pay for their own utilities, including water/sewer. The water/sewer is provided and metered by the city up to the property. The water/sewer lines belong to the MH park. Each mobile home is provided a meter by the MH park. Each tenant has signed a utility agreement with the MH park for the water/sewer service.

There is a 100% collection rate for lot rents, contracts and utilities. The tenants are mindful of the rules and regulations.

Most of the tenants, if not retired, work for Wal-Mart, or for one of the five manufacturing plants or the many retail outlets located in the Yankton area. Some of the families relocated here due to the easy access to main arterial streets and the close proximity to work and shopping.

The price has been slashed from $725,000 to a firm $550,000 cash.

There has been interest in this MH Park at the previous price. I am not willing to send anyone my tax return statement until there is a bonified offer on the table. I will post the profit and loss numbers for the last 3 years. This should give you exactly what you need to make a decision.
Recent property sales in this area: a $161K+ per acre undeveloped and a $133K+ per acre undeveloped. This proves that the $67K per acre price of this property is a bargain and it is already making money.

Click on Attachment for Finacials