Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 9.4%
Listing ID: 6741312
Posted On: Oct 3, 2024
Updated On: Nov 18, 2024

Description

Elms MHC and RV is an all age community located near I-80 in York, Nebraska.

The property features 43 lots with 14 homes currently on site, as well as 27 RVs. Of the 14 homes, 12 are currently occupied, with two abandoned homes on site. Both abandoned homes are salvageable offering new ownership the ability to increase economic occupancy within the first six months.

The majority of the RV tenants are long term tenants, and work as
contractors in the area. The property also features on site laundry and shower facilities for RV residents.

Lot rent is currently $300 per month, with similar properties in the
area charging $425-$450 per month. This offers new ownership the ability to raise rents to market rates over time.

New ownership could infill the property with additional mobile homes over time, or they could continue operating the property as a mixed RV and Mobile Home Park. Infilling the property with mobile homes would be attainable, as there is a Champion Homes manufacturer and Retail Center located within the City of York, NE.

Contact Broker for Offering Memorandum.

Location

York, NE is the county seat of York County and has a population of 8,000 residents. The community is located just off of I-80 and is 45 minutes west of Lincoln, NE.

York has a diverse employment sector with major employers including; Cornerstone Bank, Champion Home Builders, Collins
Aerospace, Bayer, as well as many Agriculture, Healthcare, and
Manufacturing jobs.