Mobile Home Park Details

Cap Rate: 12.0%
Listing ID: 6645991
Posted On: Jul 15, 2024
Updated On: Oct 2, 2024

Description

SEE ATTACHED OFFERING MEMORANDUM. 21-lots. 17-park owned homes. 3-private owned homes. 1- stick build home. Onsite coin laundry. Located on 1.7 acres within city limits. All city utilities. Tenants pay all utilities individually metered. PVS water and sewer lines. 12% cap rate. 19% cash on cash return based on 80/20 loan. On site manager willing to stay on.

Location

This property is located in Clinton the home of the Harry S Truman Army Corp of Engineers Lake. The lake is a U.S Army Corps of Engineers flood control project. At pool the lake is 55,000 acres of water, at flood stage up to 200,000 acres of water. At pool the lake is surrounded by approximately 110,000 acres of public use land. This property is in Henry County. The county population is 22,000 +/-. The trade area population is 100,000 +/-. Seasonal population increases substantially from March to OctoberThe Army Corps of Engineers owns all the land surrounding the lake at an elevation of 748 and below.