PROPERTY INFO:

38 Pads, on approximately 4 acres, located in Carlinville, IL, 40 Miles from Springfield, IL and one hour from St. Louis, MO.

Property has CITY WATER AND CITY SEWER, and all utilities are directly billed to each tenant directly from the utility company.

Tenants are all set up for electronic payments, and the historical collection rate is 96% over the past 24 months.

The monthly gross income is $11,810 with only 30 of the 38 units being occupied, providing a nice opportunity for future growth.

Average lot rent is $380

38 Pads
30 Occupied Homes
26 Tenant Owned Homes
6 Vacant Park Owned Homes
4 Occupied Park Owned Homes
2 Vacant Pads

Consistent management in place. Current manager has been steadily operating the park for the last three years.

SALES INFO:

Purchase Price: $1,250,000
Down Payment: $300,000
Cap Rate: 6%

*Seller will consider Owner Financing for qualified buyers.
8% Interest only.
Balloon: 5 Years

REVENUE INFO:

October 2023 - Gross Income: $11,810
2022 - Annual Income: $137,715.33
NOI: $74,999.92