Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 3496304
- Posted On: Aug 9, 2023
- Updated On: Aug 10, 2023
Description
Casa Bella is a 3 parcel Mobile Home Community portfolio consisting of 31 lots. There are currently 17 units onsite and occupied, all of which are tenant owned homes.
The property is served by city water and sanitary sewer, both of which are paid for by the current owner.
Financial analysis is based off the following: Increased lot rent by $25 yearly to get to stabilized rent.
Utility Bill Back- owner paid utility expenses account for over 80% of expenses, offering new ownership a large amount of upside by billing back water, sewer, and trash to the tenants. By billing back utilities, new ownership could increase their NOI by nearly $25,000 within the first year.
Casa Bella offers a new owner to purchase a value add opportunity located just 20 minutes from Saint Joseph, MO. Currently the
Location
Savannah is the seat of Andrew County, MO with a population of approximately 5,000.
15 miles north of St. Joseph, MO having a population of 71,500
residents.
60 miles north of Kansas City, MO having a metro population
boasting 2.4 million residents.
Park Information
| Number of MH Lots: | 31 |
Financial Information (Actual)
| Gross Income: | $43,320 |
| Operating Expense: | $28,581 |
| Net Operating Income: | $14,739 |
| Expense Ratio: | 66.0 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
