Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 8.0%
- Listing ID: 6726638
- Posted On: Sep 12, 2024
- Updated On: Dec 17, 2024
Description
Big Elm MHC is a quiet community that is near the Mississippi River with many long term residents. Some homes are under RTO to be purchased outright by the resident.
Overall the community is 80% occupied with current inventory. Demand is strong. Bring in more homes to fill up the empty spaces and you will really Cash Flow. Great Investment for experienced operator to Expand your Portfolio. Seller will finance property for 3-5 years.
Park Highlights:
87 spaces
33 TOH
9 POH
6 RTO- $600
3 Storage Facilities
35 Empty Lots
Lot rent currently $360
Low Taxes- $7500
City Water and Sewer (Resident Pays)
Low Expenses
Residents pay at Local Bank
20 Storage Units on Site
Manager lives onsite
Single Family Home Included
Text or email Matt for additional details
989-704-3454
Pilotinvestor135@gmail.com
Location
Savanna, IL
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 87 |
| Total Occupancy: | 60.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $360 |
| Size: | 18 acre(s) |
Financial Information (Actual)
| Gross Income: | $186,000 |
| Operating Expense: | $30,000 |
| Net Operating Income: | $156,000 |
| Expense Ratio: | 16.1 % |
Lot Information
| Singlewide Lots: | 88 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $600 |
