Eastgate MHP is a clean smaller mobile home community in a decent sized metro (Henderson, KY).​ Eastgate was purchased by the current owner two years as a "starter park" to learn the in's and out's of mobile home park management.​ The park was fairly distressed when he purchased it.​ Since that time he has done a lot of work on the park, including tearing down four vacant abandoned trailers, leveling the property where needed, adding gravel for driveways, etc.​ (Note.​.​.​some of the photos were taken nearly a year ago or more, so you will see some homes without skirting that had just been brought into the park).​

Eastgate MHP has 16-pads.​ Currently 15 of the 16 pads are rented.​ The 16th pad has a POH that is in the final stages of being renovated and will be brought online in the immediate future (seller anticipates this being completed by closing and will guarantee rent on it for six months if this is not the case).​ The approximate size of the pads are 40' x 85'.​ There are no trailers that need to be removed.​ There are no trailers being held for back taxes.​ There are currently 8 TOH & 8 POH in the park.​ The 8 POH were purchased used and brought in with new water & electric connections.​ The average rent of the POH is $600/month.​ The park owner has titles to 6 out of the 8 trailers.​ The 8 TOH average $200/month.​ The rent has not been raised since the seller purchased it in January of 2020.​

The park is self-managed at the present time.​ The seller believes that one of the residents would make a good manager/greeter candidate.​ The park doesn't have a maintenance man formally, however one of the tenants will help when asked and might be a potential candidate.​ One tenant consistently pays his lot rent late but has always paid.​ Another tenant just asked to spread out December's rent but had never been late before.​ The owner has done a good job of getting the poor tenants out of the park, and bringing in quality tenants with the new POH's.​ The park utilizes one year leases that morph into MTM at the end of the year.​

CITY WATER & CITY SEWER!!! The underground pipes in the park are a combination of clay tile & PVC.​ The majority of the POH pads have recently had new 200 amp pedestals installed, a few are only 100 amp.​ The park has electric, gas, & water meters to each pad.​ The electrical & gas providers bill the tenants directly.​ The park utilizes Metron water meters and backbills the tenants for water usage.​ The road through the park is asphalt and is considered to be in average condition.​ The roads are maintained by the owner of the park.​ Tenants are required to mow their own space.​ The park mows the vacant and common areas of the property.​ The seller has not had to remove snow during the two years that he has owned the park.​

Here is a list of the improvements the owners has made during the past two years:
•Removed five vacant homes.​
•Upgraded utilities to all eight pads that were vacant.​
•Purchased eight used homes, moved them and set them up in the park.​
•Improved all parking pads in front of all sixteen homes (new gravel).​
•Brought in two 30 yard dumpsters for tenants to haul away junk & trash.​
•Repaired sewer lines.​
•Repaired the asphalt drive by filling in pot holes.​
•Established "rules & regulations" for the park, signed leases with tenants, removed problem tenants.​

When asked what improvements he would make if he continued to own the property going forward:
•Add asphalt at the front entry to replacing the existing gravel.​
•Find someone local or an existing tenant to serve as a part-time manager.​

Broker Information:

JDS Real Estate Services, Inc.​ is the listing agent for this transaction:
JDS Real Estate Services, Inc.​
C/O Jennifer D.​ Stein
1231 Puerta Del Sol, Suite #100
San Clemente, CA 92673
Phone: 213-446-5366
Email: jstein@jdsreservices.​com
KY Broker License# 73339

Jonathan Fisher is an "out of state" licensee cooperating with JDS Real Estate Services, Inc.​ on this transaction.​ Jonathan Fisher is a licensed broker in the State of Illinois under license #471.020503.​
Phone: 217-202-0924
Email: jonfisher1991@gmail.​com