Granite City Mobile Home Park is a beautiful lakefront 11-pad community located on 3.80 acres just outside of Pontoon Beach, IL (St. Louis, MO Metro). The park was believed to have been developed in the 1990's. The property is zoned improved commercial and the park is presently in compliance. The park is located in a 100-year flood zone. The park has been self-managed since my client's purchased it. The seller recently lost her husband and has decided that the park is more work that she can handle herself. The owner believes that she has an on-site manager candidate who lives in the park for the next owner to utilize as a manager and/or greeter.

Of the 11-pads in the park, five are POH's averaging right at $770/month, and one is a TOH averaging $425/month. There are five vacant pads. The rent on the POH's was raised recently. The park utilizes leases and currently has a combination of leases and month/month. Currently none of the tenants are behind in rent. Tenants pay rent by money order only at the present time.

Granite Ridge MHP is on city water & sewer! The underground pipe material consists of a combination of PV & brown waste pipe, with a 12'' pipe down the middle of the park. The electrical pedestals appear to be newer 200 amps. The park has electric meters & gas meters to each pad. The tenant is direct billed by the provider. The park is currently paying the water bill and this might be a good candidate for the addition of water meters to back bill tenants. The roads through the park are paved and is considered to be in "really good" condition by the current owner. The tenants are responsible for mowing their own space. The park mows the empty pads and common spaces. The park takes care of snow removal (as needed).

The current owner would prefer to sell this property to a cash buyer...however she is open to selling on contract as well with a strong down payment (on a case-by-case basis). Seller will not consider any seller financing offers under $150,000 down payment. 6% interest. 5-year balloon.