8800 E 1ST ST S Independence MO 64053

The MHP Value Team is pleased to offer for sale Blue Hills MHP, a 49-site mobile home community located in Independence, MO.

The community currently includes 4 lot renters paying an average of $308/m, and 9 occupied park owned homes paying an average of $539/m. With city water & sewer, majority of the lots are sub-metered and all costs are billed back to the tenants.​

This is an infill play in Kansas City MSA - one of the fastest growing metros in the nation.​ The investment strategy for this park would be to gradually raise rents to market rate and sell off the remaining park owned homes to the tenants to decrease expenses, along with rehabbing and filling the remaining vacant POH & lots, subject to necessary infrastructure updates prior to infill.​ The seller is offering extremely favorable seller finance terms requiring only 30% down & will finance the remaining balance at 5% INT, interest only payments, for a 5 year term.​ Lastly, the park is located in opportunity zone for those looking to take advantage of the huge tax benefits.​

This rare opportunity is perfect for a seasoned investor with infill experience, offering favorable seller financing terms and strong market demand in Independence, MO, just 20 minutes from downtown Kansas City.​ With vacant lots w/infrastructure ready for infill following required upgrades and standard rent growth, investors can easily position themselves for double-digit returns by year two while reaping the tax benefits with an opportunity zone.​

• Located in Kansas City MSA with a population of 2.2 million
• Seller financing terms: $300K down, 5% interest rate, interest-only payments for a 5 year balloon
• Immediate upside with lot rents $50-$100 below market
• 29 vacant lots with infrastructure ready for infill
• 7 vacant POH - three are being cleaned and can be rented out by the seller at close, two need heavy repairs (15k budget), and two are salvageable
• 9 occupied POHs can be sold off to tenants to minimize expenses
• Located in an opportunity zone - huge tax advantages! Consult your CPA

OtherStreet Advisors in conjunction with Jennifer Stein Real Estate, Inc. is pleased to offer for sale Blue Hills Mobile Home Community located in Independence, Missouri. The community includes fifty licensed lots with fourty nine that are usable all on city utilities and is currently at 42% occupancy.

There are currently four tenant-owned homes in place with an average lot rent of $255/m, and three rent-to-own homes with an average RTO payment of $233/m. There are also twenty-eight park-owned homes, in which fourteen are occupied with an average home rent of $298/m. Finally, there are fourteen vacant lots.

A new investor has the opportunity to achieve upside in this community through infill of the vacant lots, converting the current park-owned homes to tenant-owned homes, and raising rents to the market rate.

This community is also located in the Kansas City MSA which is home to more than 2.1 million residents, many of which need affordable housing. This community has the potential to appreciate and grow as the MSA continues to expand.

*Seller Financing Available*

• Seller financing terms: 30% down payment, 5.00% interest rate, 5-year term with full term I/O

• Infill upside of the 14 vacant lots, 12 of which are already prepped

• Opportunity to increase rents to the market rate, lot rents are currently ~$164/m below-market while home rents are ~$204/m below-market

• Strategically located within the Kansas City MSA and close to many major retailers, manufacturers, and more

• Strong demand for affordable housing with neighboring communities already at 90-100% occupancy