Photo of Mobile Home Park

Mobile Home Park Details

Purchase Method: Cash
Listing ID: 518240
Posted On: Apr 22, 2015
Updated On: Sep 1, 2015

Description

• Rare opportunity to acquire a 484-site, high-quality park on public utilities in the largest MSA of Kansas with a population of over 2 million.
• Strong market - management continues to see interest from potential tenants to purchase homes from $35k to $60k.
• Upside potential to start investing in homes to fill vacant sites.
• Competitive amenity package includes swimming pool, fitness center, playground, basketball court and a clubhouse.
• All home sites feature off-street parking for two vehicles and patios with approximately 25% containing carports.
• Attractive layout with curbs, wide curvilinear streets and mature trees throughout.
• Average family household income within a five mile radius of $92k. Significant employment opportunities for tenants to live and work in the market.

Location

• Santa Barbara is conveniently located in Olathe, KS, 20 miles southwest of Kansas City, 30 east of Lawrence and 60 east of Topeka, the state capital.
• Johnson County schools earn best-in-nation status; Five Johnson County high schools have been named among the nation’s best. (Scripps Media, Inc.)
• The Kansas City International Airport, which serviced 10.2 million passengers in 2014 and is ranked in the top five airports by a J.D. Power and Associates satisfaction study, is 45 minutes from the property.
• Numerous shopping destinations sit nearby the property including: The Great Mall of the Great Plains, a 1.2-million square-foot outlet mall in Kansas with over 80 stores and restaurants; the Oak Park Mall, the largest mall in Kansas with over 160 stores and 1,562,679 covered square feet; and the Country Club Plaza, a 15-block, high-end shopping district with over 170 stores.
• The unemployment rate of 5.0% for the Kansas City MSA was below the national average of 5.4% in Dec 2014, not seasonally
adjusted.
• Kansas City offers renowned tourist destinations such as the National World War I Museum, the Nelson-Atkins Museum of Art, the Kauffman Center, the Starlight Theatre, and more.
• The University of Kansas is the largest and oldest public university in Kansas and sits 40 minutes from the community. It has an enrollment of 28,000 and offers over 360 degree programs.
• Several major employers reside in the area: Cerner Corporation, employing 9,850, HCA Midwest Health System, employing 9,394, Sprint , employing 7,500 and the Ford Motor Company Assembly Plant, employing 4,900.

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