Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 6.1%
Listing ID: 1475634
Posted On: Jul 13, 2021
Updated On: Feb 8, 2022

Description

Offered by Principles of this Investment property
Contact us ONLY if you a Qualified buyers with Proof of Funds (POF) &KYC -

Will sell Golden Avenue with 79 pads separately (Contact for details)

Hillcrest Mobile Home Park (Hillcrest and Golden) combined – 124 Pads
Springfield, MO 65803 (15.38 Acres)

2302 N. Hillcrest Ave, Springfield MO 65803 (UNDER CONTRACT)
(5.0 Acres) 44 Pads
Occupancy: 82 % for Hillcrest Avenue

2260 N. Golden Ave, Springfield,
MO 65803 (10.38 Acres) 79 Pads
Occupancy: 62% for Golden Avenue
Priced to Sell (Contact for details)

Property: Hillcrest Mobile Home parks are zoned as MHP. ZONING (RV AND MH CROSS UTILIZATION R-MHC, which has an allowable use of manufactured homes in manufactured housing communities. RV can contribute up to 100% of the total park occupancy. Perfect location for Tiny home community.

Golden Investment opportunity: Missouri company owned and operated Portfolio of Springfield Missouri Mobile Home parks located within the City of Springfield. The 122 pads for single wide trailers. The Parks are of all age communities on 15 acres of land. All pads are Connected to City of Springfield water. Electric is master metered. + or – 50 % of the pads are connected to city sewer. NO Park owned trailers. Present lot rent is $240 a pad which includes water, trash and sewer. Currently Positive cash flow with upside potential. New tenants lot rent already raised to $275
2260 North Golden (Hillcrest Mobile Home Park) 2302 North Hillcrest Avenue (Hillcrest Mobile Park) Hillcrest Mobile Home Park which is on North Hillcrest and North Golden has 124 pads on 15.38 Acres)

Revenue: Hillcrest Mobile home park ( Combination of North Hillcrest Ave and North Golden Ave )
2019 $274,981
2020 $299,996
2021 3 Q $ 240,791 (Sept 30 2021)
2021 Estimated ( $321,054 )

https://youtu.be/yTgrFy2tUuk (Hillcrest MHP Aerial drone video)

Hillcrest and Highland, both parks are zoned as R-MHC, which has a allowable use of manufactured housing in manufactured housing community. RV can contribute up to 100% of the total park occupancy
Hillcrest MHP 58 pads are on city sewer.

Highlights:

**** Currently Positive cash flow. Golden opportunity to increase
property valuations adding trailers/RV's into empty pads
**** Potential rent increase to $295 per Lot (Springfield market
value).
***** New move in is now being charged $275 lot rent
**** Electric is already sub metered
**** Sub meter water to increase your profits ( New owner )

****Within City of Springfield. Close to I-44 Highway, major
trucking from East to West

**** All age Mobile Home Park community with shaded lots.

****No Park owned trailers.

**** Springfield Missouri which is in Greene County has a
Moratorium on new Mobile Home Park construction.

**** Principal / Brokers with POF (Proof of Funds)
Only qualified serious buyer’s welcome.
**** No owner financing or carry back

We can provide a) IRS tax return for 2017,2018,2019,2020 (SCH E )
b) Certified P&L from Accountant for 2017,2018,
2019,2020 & 3nd Quarter of 2021
c) Missouri LLC Good standing/ City Licenses
d) Current Rent rolls (November)
e) Title search done Hogan Title company has
clear Title. Fidelity Insurance.

We are the Principles of this Investment property.

Please email me at sgfmomhp@gmail.com

Location

Springfield Missouri: Springfield is the third largest city in the state of Missouri and the county seat of Greene County. As of the 2010 census, the city's population was 159,498. As of 2019, the Census Bureau estimated its population at 167,882. It is the principal city of the Springfield metropolitan area, which has a population of 462,369 and includes the counties of Christian, Dallas, Greene, Polk, and Webster. Springfield's nickname is "Queen City of the Ozarks" as well as "The 417" after the area code for the city. It is also known as the "Birthplace of Route 66". It is home to three universities, Missouri State University, Drury University, and Evangel University. Hospitals in Springfield include Mercy, Cox and few more. Springfield Missouri is located less than 40 mins North of Branson, 3.5 hrs on I-44 from St. Louis Missouri, 2hrs 40 Minutes Kansas City. 2 Hrs 45 Minutes from Tulsa Oklahoma. Springfield has major trucking lines. New Amazon warehouse is being built outside the Springfield metropolitan area.

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