TITLE:
SMALL VALUE ADD MOBILE HOME PARK
CONTROL:
Owner
VALUE:
$270,000
LOAN:
$195,000
EQUITY:
$75,000
TYPE:
Mobile Home/RV
HAVE:
38 pad site MHP with 14 existing homes. Includes 5 park owned homes. Tenants pay utilities and garbage via passthru.
ADDRESS:
1219 N 20th st, Murphysboro, Illinois
BENEFITS TO NEW OWNER:
Some income, ability to upgrade and add trailers. Lots of upside.
GROSS SCHEDULED INCOME:
$32,000 Actual
VACANCY LOSS:
$12,000
GROSS EFFECTIVE INCOME:
$20,000
EXPENSES:
$6,000
NOI:
$14,000
DEBT SERVICE:
$17,550
CASH FLOW:
$-3,550
CAP RATE:
5.19%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$195,000
$1,462
9%
06/01/2022
No
BENEFITS SOUGHT:
Go on to a bigger deal.
CAN ADD:
$1.7MM of mixed use commercial property in Indiana, notes, land, cash
REMARKS:
We have deal fatigue on this one because we do not have the human resources to make this happen. We would be happy to include someone in the deal who could do the sweat equity. Make us an offer, we are pretty creative.
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
