Mobile Home Park Details

Purchase Method: Cash, Seller Financing, New Loan
Cap Rate: 10.7%
Listing ID: 6660428
Posted On: Jul 17, 2024
Updated On: Oct 25, 2024

Description

This is a two park MHP portfolio located in the same community (Moberly, MO). The parks offer a combined 107 pads and are presently 74% occupied. Both parks are on city water & city sewer. The parks have a 3rd party property manager that would have interest in managing the portfolio going forward if you are not interested in handling this in-house. They also have identified tenants who live in the parks that would be good candidates for limited management/greeter positions. The vast majority of the trailers are either TOH's or RTO's. The parks are being sold as a portfolio and not individually.

Residents are direct billed for water, electricity, & gas by the utility providers. Garbage is paid directly by the tenants in one park, and transitioning towards tenant payment in the other. The park roads are asphalt and are considered to be in good condition (July 2024 repairs to asphalt). The tenants have been notified that they will mow their own pads starting on July 1st, 2024. The park mows the common areas through the property management company. The property management company also pushes snow as needed.

Seller financed offers will be considered!

MR. LANDMAN, LLC is a licensed real estate brokerage firm in the State of Missouri under Lic#2021009404. Jonathan Fisher is a broker associate in the State of Missouri under Lic#2021009405

Location

Moberly is a city in Randolph County, Missouri. The population was 13,783 as of the 2020 census. It is part of the Columbia metropolitan area. The economy in Moberly is supported by a mix of manufacturing, healthcare, education, and retail. Local businesses thrive alongside larger corporations, providing a stable economic environment and employment opportunities for the community. The presence of Moberly Area Community College adds an educational dimension to the city, fostering learning and innovation.

The median home cost in Moberly is $121,800. Home appreciation the last 10 years has been 67.1%. Home Appreciation in Moberly is up 15.2%.

Renters make up 29.8% of the Moberly population.

The average 2-bedroom home/apartment rents for $760/month.
The average 3-bedroom home/apartment rent for $1,050/month.

Moberly, MO is currently on a positive path when it comes to future job growth. With a 17.36% projected growth in jobs compared to the national average of 30.54%, Moberly is set up for an influx of opportunities in the coming years. The unemployment rate in the city is also lower than the US average, sitting at 4.8%. This indicates that there are plenty of jobs available for those who are willing to put in the effort to find them.

Moberly, Missouri gets a BestPlaces Cost of Living score of 74.5, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 25.5% lower than the U.S. average and 13.0% higher than the average for Missouri.

Moberly violent crime is 13.4. (The US average is 22.7)
Moberly property crime is 45.4. (The US average is 35.4)

Moberly schools spend $13,691 per student (The US average is $12,383). There are 13 pupils per teacher, 678 students per librarian, and 339 children per counselor.

Here are some of the largest employers in Moberly, MO:

• Everlast
• Lakeview Biodiesel
• Mack Pro
• Orscheln Products
• Pepco, Inc.
• Precision Printing
• Randolph County Sheltered Industries
• Vest-Fiber
• Wilson Trailer
• Walmart
• Moberly Community College
• Moberly Correctional Center
• Moberly Public Schools
• Moberly Regional Medical Center

Moberly is located:

36 miles N of Columbia, MO
65 miles N of Jefferson City, MO
131 miles NE of Kansas City, MO
151 miles NW of St. Louis, MO
198 miles NE of Springfield, MO

Randolph County is a county in the northern portion of the U.S. state of Missouri. As of the 2020 census, the population was 24,716. Its county seat is Huntsville. The county was organized January 22, 1829, and named for U.S. Representative and U.S. Senator John Randolph of Roanoke, Virginia. Randolph County comprises the Moberly, Missouri Micropolitan Statistical Area, which is also included in the Columbia-Moberly-Mexico, Missouri Combined Statistical Area.

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