Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 9.0%
- Listing ID: 383864
- Posted On: Jul 1, 2013
- Updated On: Dec 30, 2021
Description
REDUCED PRICE!! MOTIVATED SELLER!!
Deerwood Estates Mobile Home Park is a 90 unit mobile home park located on 14 acres on the east side of Springfield which has stable, predictable cash flow. The rent collections are nearly always 100% and the expenses are minimal and predictable.
**Highlights of Deerwood Estates Mobile Home Park include:
Deerwood ESTATES has great access to shopping as it is located only a few blocks away from major fast food franchises. Walmart and the brand-new Harley-Davidson store in Springfield Illinois.
The property is covered with mature trees and has a park like setting.
There is only one part on rental on the property. A majority of the tenants have been very long-term tenants.
The property has been attractive entrance and is located in a residential area surrounded by two other very attractive communities and single family residences.
If you are looking for a very well located, stabilized park with some additional upside through feeling the last few lot Deerwood ESTATES would be an excellent candidate for your portfolio.
Lot rent at Deerwood Estates is $247 per month the tenants also pay water sewer and trash as reimbursement back to the park. The tenants pay their electric and natural gas directly to the local utility providers.
Springfield current population 116,250. 6th most populated city in the state and the second most populated Illinois city outside of the Chicago Metropolitan Area.The economy of Springfield is marked by government jobs, which account for a large percentage of the city's workforce.
Location
Springfield current population 116,250. 6th most populated city in the state and the second most populated Illinois city outside of the Chicago Metropolitan Area.The economy of Springfield is marked by government jobs, which account for a large percentage of the city's workforce.
Park Information
Community Type: | All Age |
Number of MH Lots: | 90 |
Total Occupancy: | 83.0 % |
Average MH Lot Rent: | $256 |
Size: | 14 acre(s) |
Financial Information (Actual)
Gross Income: | $253 |
Operating Expense: | $100 |
Net Operating Income: | $152 |
Expense Ratio: | 39.5 % |
Lot Information
Singlewide Lots: | 90 |
Utility Information
Water: | City |
Water Paid By: | Tenant - RUBs |
Sewer: | City |