***Seller Financing*** The seller is offering 50% seller financing for 5 years at 4.5% interest. ($50,000 down at closing)

Leeton MHP is a 8-pad mobile home community located on 3.36 acres in Leeton, MO. The park is believed to have been developed in 2016. The property is zoned residential. The park is not located in a flood zone. The park is presently managed by a 3rd party professional management firm. The park also has a tenant that serves as the maintenance man for the property.

The pad size varies, but the majority are single section pads. There are currently not any trailers that need to be removed from the premises. There are presently two occupied trailers in the park. One is a TOH paying $300/month. One is a POH paying $735/month. Five pads are presently vacant. The park does not have the title to the POH's. The rents have not been raised since June of 2020. The park is presently utilizing monthly leases. Both tenants are current on their rent.

Leeton MHP is on city water & septic. The underground pipe material is unknown. The park is presently paying for the electricity, gas, & water. The park has water, electric, & gas meters to each pad. The next ownership group should strongly consider the installation of water meters and having the tenants pay for their individual utilities. The park roads are gravel and they are considered to be in good condition. The tenants mow their own pads and the park mows the common areas. The park has not needed snow removal since the current owner has owned the property (two years).

Since the present owner has owned the property they have made several improvements. They have evicted bad tenants, torn down decrepit homes, cleaned up the property, and removed trash/debris. If they were to continue to operate the park going forward they claim that park infill efforts would be their primary goal.

This park represents the perfect opportunity for a newer or smaller investor to get into the MHP asset class without a significant cash outlay. The park should be grossing in excess of $5,000 monthly after the remaining six pads are filled with new or used trailers. Also the addition of meters for utilities should strongly be considered by the next owner to increase NOI. Rome wasn't built in a day...this might be the perfect starter park for you to begin your journey in MHP's.