Property ID: 1356478
Property Description
Lakin Brokerage is pleased to present Sycamore MHP in Sullivan Missouri. This park offers consistent earnings, city utilities, and great upside. There is significant demand for affordable housing. This park is being sold with St. Joseph MHP in Cuba, MO.
Mobile Home Park Details
- Price: $1,500,000
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0%
- Property ID: 1356478
- Posted On: Nov 16, 2020
- Updated On: Nov 16, 2020
Location
Close to shopping, schools, and restaurants including a Super Wal-Mart across the street.
Video
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 49 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 11 acre(s) |
| Ammenities |
Financial Information
| Gross Income: | $217,080 |
| Operating Expense: | $68,398 |
| Net Operating Income: | $167,882 |
| Expense Ratio: | 31.5 % |
| Debt Info: |
Lot Information
| Singlewide Lots: | 49 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant – Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 33 |
| Average Rent for Park-owned Homes: | $245 |
Interested in this property?
476 Old Smizer Mill Rd
Suite 163 Fenton, MO 63026
314-565-5274
blakin1@gmail.com
