Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.0%
- Listing ID: 635166
- Posted On: Feb 17, 2016
- Updated On: May 16, 2016
Description
PERFECT STARTER!!!! 29 space community located in Joplin MO. with a population of 50,000+. Strong economic base with high demand for housing.
EZ to run, excellent onsite manager and park upgrades complete. 25 occupied spaces, 4 vacant lots for new homes. 10 park owned homes on lease to purchase - pay space rent - all included with park sale! Perfect location close to major highway.
Total park net income over $5,000 per month!!! Price based on lot rent income only! Income from day one! Incredible cash on cash returns!
Park on city water which is billed back to residents. New water lines upgraded throughout park. Private, well maintained sewer and pride of ownership throughout park.
Perfect for absentee owner. Out of town seller only visits park a few times per year! Seller has owned for over 4 years and is ready to climb ladder to a much larger park.
No bank needed. Owner will finance and is asking 30% down on solid terms but will consider reasonable financing offers.
Perfect for 1st time owner to learn the business on a park with strong systems already in place. Upside is adding 4 homes, possible adding more lots and annual lot rent increases.
$395,000
Park Information
Community Type: | All Age |
Number of MH Lots: | 29 |
Total Occupancy: | 86.0 % |
Year Built: | 1965 |
Average MH Lot Rent: | $175 |
Size: | 14 acre(s) |
Lot Information
Singlewide Lots: | 29 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | Septic |