605 CROSS ST Hamilton MO 64644-8215

This mobile home community portfolio consists of 3 mobile home parks, all of which are within the city limits of Hamilton, MO. These parks are the only three mobile home parks in town, giving a new owner both potential scale in the area, as well as low competition. The town of Hamilton has a high demand for affordable housing due to both seasonal and full time employers in the area. The subject property is located less than an hour from the Kansas City MSA, and is in close proximity to I-35.

The properties are all on public utilities, with mobile home tenants paying all utilities directly. Obtainable and realistic upside exists in raising lot rents, selling remaining park owned homes on contract, advertising RV spaces more effectively, and infilling vacant mobile home lots in order to fill the housing demand in the community.

Lot rents in the subject properties are still below market for the area. Current ownership has raised lot rent to $300 for rent to own contracts, but has not raised lot rents to market rates for TOHs. This offers new ownership the opportunity to raise lot rents to market rates over time. Based on current rates, lot rents of $300-$325 are realistic and attainable for new ownership within a short time.

Current ownership has added multiple RV sites with 50 amp service with 100 amp conversion capable wiring, allowing new ownership to place mobile homes on the lots if they prefer and has also rehabbed park owned homes. Several park owned homes have been sold on contract, with remaining park owned homes available for new ownership to sell for increased income and decreased maintenance costs.

Caldwell county is currently adding a recreational and water supply reservoir just south of the town. The Little Otter Creek Reservoir is currently nearing completion and is scheduled to begin filling in the Fall of 2023. The project has a footprint of nearly 700 acres, 350 of which will be used for the lake footprint. This development will bring increased tourism and employment to the area, which will cause an increased demand for both RV spaces and for affordable housing.

This mobile home park portfolio in Hamilton, MO. It is the home of Missouri Star Quilt Co. which employs over 450 people. The company recorded over $20 million in sales last year and is heavily invested in the town. In addition to the quilt manufacturer, Hamilton is located less than an hour from the Kansas City Metro area and 45 minutes from Saint Joseph, MO with near direct access to Interstate 35.

• This park portfolio consists of 3 mobile home parks, all of which are within the city limits of Hamilton, MO. These parks are the only three mobile home parks in town, giving a new owner both potential scale in the area, as well as lower competition.

• Tenants pay all utilities directly and are responsible for their own lawn care.

• Seller financing is an option for qualified investors. Terms negotiable.

• The portfolio consists of 40 developed Mobile Home Lots, 14 of which are currently being used as RV lots.

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