Contact Information
Mobile Home Park Details
- Price: $2,970,000
- Listing ID: 6820644
- Posted On: Feb 7, 2025
- Updated On: Mar 5, 2025
Description
- Attractive Price Per Site & Immediate Value-Add Potential: Priced at $33,750 per site, Mediterranean Place offers a competitive entry point compared to regional comps averaging $51,741 per site. With 65% occupancy across 88 sites, investors can increase value by infilling vacant lots and optimizing rental income. Additionally, with only four community-owned homes (2 rentals + 2 notes), investors can benefit from a low-maintenance asset with minimal exposure to home ownership responsibilities.
- Scalable Income Growth with Below-Market Rents: The community's average lot rent of $400 is well below alternative housing options in the area, presenting an opportunity for incremental rent increases.
-Tenant-Paid Utilities & Low Operational Burden: Mediterranean Place benefits from a tenant-paid utility structure, including water, sewer, electric, trash, cable, and internet. This model reduces operating costs and enhances long-term cash flow stability, particularly given the limited number of community-owned homes that would otherwise require additional maintenance.
- Favorable Market Dynamics & Affordable Housing Demand: Stratford’s high cost of homeownership ($1,759/month) and apartment rentals ($979/month) make Mediterranean Place’s $400 lot rent extremely attractive to residents. The 440% cost spread versus homeownership and 245% spread versus apartments supports strong demand for affordable housing, ensuring continued occupancy growth.
- Strategic Location with Strong Economic Drivers: Stratford, Wisconsin, offers stable employment opportunities, with major employers including Marshfield Medical Center, Marshfield Clinic, and Roehl Transport. Additionally, the property’s proximity to State Highway 97 and U.S. Route 10 provides easy access to larger job markets, further supporting long-term demand for housing in the community.
Park Information
Community Type: | All Age |
Number of MH Lots: | 88 |
Total Occupancy: | 65.0 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - RUBs |
Sewer: | City |