Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 793869
- Posted On: Mar 20, 2017
- Updated On: Nov 27, 2017
Description
PRICE DROP by over $10,000! don't miss out!
We are not offering seller financing.
We are financed through Central National bank listed below. They are willing to consider financing the purchase of this park again. Terms will naturally vary and be case by case depending on the person or company applying for credit. You will need to contact them for any specifics, I make no promises. In general you can expect to be required to put down 35%. They may consider use of collateral in other properties you own. Loan would likely be a 15 year amortization.
Central National Bank | 4838 W. Central Ave; Wichita, KS 67212
Phone (316) 941-9100 | Fax (316) 941-9212
Email jeffc@centralnational.com
Additional information the lender may require.
- 3 years tax returns for the borrower.
- Current financial statement.
- If the borrower is a business entity, such as an LLC or corporation, then we will need the above requested information for the business, AND 3 years personal tax returns and a current financial statement on the owners of the entity (greater than 20% ownership).
- Proof of down payment, for example, a bank statement.
- Credit history - Central National Bank will need to pull a credit report. The buyer will need to sign a credit authorization which allows us to do so.
- Qualifying credit score
You might also try joining the Wichita REIA for resources or private money.
This is a 12 lot/space park, consisting of 9 mobile homes, and 3 RV lots.
As of Sept 1st there are 8 owner occupied homes, 1 park owned home, and 3 RV spaces.
Rent history shows gross income for 2016. Some tenants paid late in Dec 2016 so the income does not show on the 2016 P and L. We also had a tenant skip on us that year without paying his water bill, so we lost a bit on the water as well.
A current 2017 P and L is posted, and is looking much better than the previous years.
Park Information
Community Type: | All Age |
Number of MH Lots: | 12 |
Total Occupancy: | 75.0 % |
Average MH Lot Rent: | $210 |
Size: | 1 acre(s) |
Lot Information
Singlewide Lots: | 12 |
RV Information
Number of RV Lots: | 3 |
Average RV Lot Rent: | $325 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 1 |
Average Rent for Park-owned Homes: | $350 |