Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 13.0%
  • Listing ID: 482268
  • Posted On: Nov 5, 2014
  • Updated On: Oct 19, 2020

Description

NO BLUE SKY! Stabilized 13% cap, 24% cash on cash, 26% Internal Rate of Return. Based on a 70% LTV.

This park consists of 7-acres +/- and 28 mobile home lots. With 26 Park owned homes. 2- lots leased to private owners, 26-park owned homes sitting on 26-lots of the total 28-lots.

Unit Mix Park Owned Homes: 2-bed 1-bath 9-units, 2-bed 2-bath 7-units, 3-bed 2-bath 10-units.

Rent Roll Attached. Park owned homes monthly rents $12,200.00. Lot rents monthly private owners $350.00.

Proforma vacancies figured at 10%- yr one, 10%-yr two, 9%-yr three and beyond.

City water, city sewer, 100 AMP service to each site, landlord pays water. The electric & gas is individually and metered tenant paid.

No zoning, park is outside city limits.Class A neighborhood.

New water lines in 2013, sanitation PVC. Gravel interior roads.

Located in Pettis County, population 42,000, City of Sedalia population 22,000, the county seat. Sedalia is a rapidly growing city and is home of the MO State Fair.
Average vacancy for rental property in Sedalia is 8%. Average market rent for mobile home lots $200 per month.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 28
Total Occupancy: 95.0 %
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $154,800
Operating Expense: $42,000
Net Operating Income: $96,720
Expense Ratio: 27.1 %

Lot Information

Singlewide Lots: 26
Doublewide Lots: 2

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $125

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 26
Average Rent for Park-owned Homes: $525

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