Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.7%
- Listing ID: 1712421
- Posted On: Jul 14, 2022
- Updated On: Mar 21, 2023
Description
The property has low overhead, only a single park owned home, and solid infrastructure to include new sanitary sewer main and lateral lines in 2020.
Current lot rents are below market value which leaves plenty of room for upside to a new owner. Current financials are actual resulting in a 10 CAP.
The property has easy and attainable upside through increased lot rent. Current ownership has not raised lot rent in several years resulting in below market value lot rent.
Location
Osceola, NE is a city of about 900 people and is home to the county hospital, a Chevrolet dealership, and various local area employers.
Osceola is located approximately 30 minutes from Columbus, NE (population 22,000) which is home to a college, hospital, and numerous manufacturing and agricultural careers.
Osceola is located approximately 60 miles northwest of Lincoln, NE, which as the capital city boasts a population exceeding 280,000 people, and a wide variety of career opportunities.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 9 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $170 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $18,360 |
| Operating Expense: | $2,255 |
| Net Operating Income: | $16,105 |
| Expense Ratio: | 12.3 % |
Lot Information
| Singlewide Lots: | 9 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $170 |
