Turnkey 23 space 4.23 acre park with Owner Carry. Average lot rental rate is $397.55 with a low vacancy rate. Public water and sewer. City approval to expand five more lots.

8% cap rate with a projected $66,000 net cash flow for 2018.

Terms:
Call me crazy on the terms but I'm thinking 30 to 40 year note with a 6.5% rate that adjusts in 5 to 10 years with 10% down. I would require an additional $40,000 that is held in escrow and paid off when the 5 new lots are put in this spring. I'm wanting to avoid capital gains tax so the low down works for me and by developing the 5 new lots creates a win win for both of us. Buyer picks up additional income and if the buyer defaults on the loan I have some added value to the park.

I seriously messed up by having our park way undervalued which I didn't realize until a few weeks ago. Lot rent is $220 and should be $265 which is still on the low end. I'm working on a map of parks in the area showing what their rates are.

Manager uses two RV spots which are available for future rentals. Lot rent is $50 to $75 undervalued compared to other parks in the area.

Investment Summary:
We have owned the Declo Trailer park for four years and have accurate and consistent numbers. The park is an excellent turnkey cash flow business.
The park manager has done an excellent job managing the park over the years and plans to continue as long as he can. We have been very hands off with only a few visits to the park each year. The manager lives at the park and not charged for his pad. There are two RV pads next to the manager's trailer which the manager has current use of, but could be considered as future rentable income.
We have a high demand for the park with numerous people contacting us when a space becomes vacant with very little to no advertising on our part.
The area is growing substantially with new jobs constantly coming to the area. 2017 Cassia County had a 0.95% growth rate. The park is within the city limits of Declo Idaho and is considered a very family friendly community with an excellent school system and low crime.
There are 23 lots in our park with 13 park owned homes. Two of the trailers are rent to own. We have always maintained the park and never put off needed repairs. We have had people ask to purchase some of the park owned homes which is an available option for the purchaser.
Out of the 13 park owned homes there are four double wide trailers which rent for the same amount roughly as the single wide trailers and should rent for more. A rate increase toke affect September 1, 2018 and the last rate increase was June 2014. Our rates need to be raised $50 to $75 per lot to be in line with the market.
The City of Declo has recently approved the expansion for five more lots within the park. Attached is a map showing the approved park expansion with the required set back and hammerhead turn around.
Each tenant is required to water and maintain their own yard. The City of Declo provides garbage services as part of their utility costs. Our park operates at a very low operating expense ratio of 28%.
We are selling this investment because we have an opportunity for another investment opportunity.
Overview Summary:
The best ROI for this park with the easiest first:
1) Rent the two RV spots.
2) Raise rents next year for all lots $50 to $75.
3) Raise rents for the double wide trailers which are currently undervalued.
4) Develop the 5 approved lots.

We do not need help selling or financing our park. Please contact us only if you are a SERIOUS buyer.