Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 9.0%
Listing ID: 1422504
Posted On: Apr 13, 2021
Updated On: Aug 17, 2021

Description

Sunset Meadows is a 46-unit RV Park & Storage facility. The property is comprised of a mixture of RV spaces, outdoor and covered storage and single-family homes. With excess land to expand and room to raise the storage rents to market value, this allows an investor to increase revenues on an already strong cash flow property. The property caters mainly to long term and monthly RV residents.

Location

Located less than four miles south from Exit 39 (Haysville) on the Kansas Turnpike I-35, and less than four miles north of the Kansas Star Casino, Sunset Meadows provides a quiet comfortable setting that is just minutes away from retail, restaurant and entertainment amenities of the greater Wichita area.

With a metro area of over 600,000, Wichita is the second largest urban area in Kansas, with a diverse blue-collar workforce and a strong manufacturing base. Commonly referred to as the Air Capital of the World, Wichita has a very strong aviation cluster, including assembly for Spirit Aerosystems and Textron Aviation, plus countless subcontractors. Wichita has substantial employment from the two largest private companies in the world, serving as the HQ location for Koch Industries, and a regional headquarters for Cargill's protein division.