Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 14.0%
  • Listing ID: 910707
  • Posted On: Mar 17, 2018
  • Updated On: Mar 22, 2019

Description

Turn-key profitable mobile home park in Vandalia, IL, priced to sell. 27 spaces (8 need to be developed), with 19 park owned homes with a possible revenue of $99,000 annually. Huge investments over the last few years: City water 2017, aeration systems, new roofs, and added trailers. Cash on Cash return at 55%. This is a perfect opportunity for a seasoned investor or a retirement opportunity with cash flow. The 19 homes typically run at about a 95% occupancy rate. There is a waiting list to get into this park. This is a very well groomed park with many 3BD, and 2 Baths in the park. Lots of land to expand as well. Excellent managers are on site and handle about 90% of all repairs/maintenance. Please call 314-422-2726 for more information. Only serious inquiries. Cash/New loan, possible financing available, 25% down.

Amenities

  • Storage
  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 27
Total Occupancy: 100.0 %
Year Built: 2004
Average MH Lot Rent: $435
Size: 8 acre(s)

Financial Information (Pro Forma)

Gross Income: $99,000
Operating Expense: $26,000
Net Operating Income: $72,432
Expense Ratio: 26.3 %

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 19
Average Rent for Park-owned Homes: $435

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