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29162976
29162999

601 S Stewart St, Geneseo, IL 61254

ND
MO 2023034995
eXp Commercial
Listed by eXp Commercial
$1,010,000
156 days on market
Updated 1 day ago

Maple City MHP

Details
APN 08-20-428-008
Property Type Mobile Home Park
Units 39
Cap Rate 8.52%
NOI $86,011
Occupancy 71.79%
Pro-Forma Cap Rate 15.2%
Pro-Forma NOI $153,503
Broker Co-Op Yes
Class C
Acreage 3.620
Investment Type Value Add

39-Unit Mobile Home Park featuring City Water & Sewer and a Majority of Tenant-Owned Homes

Marketing description

BACK ON MARKET — The MHP Value Team is pleased to reintroduce Maple City MHP to the market and offer for sale a 39-unit mobile home community with additional income potential from on-site storage.

The community consists of 27 occupied tenant-owned lots generating an average lot rent of $350 per month, one occupied rent-to-own home producing $590 per month, three vacant park-owned homes, and one vacant storage building that can be rented for $400 per month. The property also includes seven vacant lots with existing infrastructure in place, creating a clear path for infill and NOI growth. The asset is currently operating at 71.79% economic occupancy, representing a stable, cash-flowing community with meaningful value-add potential through infill and improved utilization of existing assets.

The investment strategy for this community centers on infill of the remaining vacant lots, continued stabilization of in-place operations, and maximizing ancillary income through the existing storage facility. With solid current cash flow and clear operational upside, a new owner can increase NOI while maintaining a stable resident base.

Additionally, the seller is willing to hold a $100,000 second-position lien note as part of the transaction structure, providing enhanced leverage and reducing the buyer’s upfront equity requirement. This financing component further strengthens the overall investment profile and supports a smoother path to stabilization and value creation.

This offering represents an opportunity to acquire a well-performing mobile home park with immediate monthly income, structured financing support, and multiple value-add levers, including infill and ancillary revenue growth.

Investment highlights

  • Infill Upside with Infrastructure in Place. 7 vacant lots with existing utilities offer a clear path to drive NOI through infill without major upfront infrastructure costs.

  • Strong In-Place Cash Flow. 27 tenant-owned homes paying an average of $350/month provide stable, predictable income with minimal management intensity.

  • Multiple Value-Add Levers. Opportunity to monetize a vacant storage building at ~$400/month, bring 3 park-owned homes online, and improve overall economic occupancy.

  • Attractive Basis with Stabilization Potential. Currently operating at ~72% economic occupancy, allowing a new owner to increase cash flow through operational improvements and asset optimization.

  • Seller-Carried Second Lien Available. Seller willing to hold a $100,000 second-position note, reducing upfront equity requirements and enhancing overall deal structure.

Listing Contacts

ND
MO 2023034995
eXp Commercial
Listed by eXp Commercial

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$86,011.00
$7,167.58/mo

Valuation Metrics

0
DSCR
8.52%
Cap Rate
8.52%
ROI

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