Blue Sky Village
Blue Sky Village
5 N Morgan St. Nickerson KS 67561
$275,000
List Price
9.27 %
Cap Rate
6.48
GRM
30
Number of Units
Investment Summary
  • This property features 30 pads of which 13 are occupied. Lot rent was recently raised to $225 which is still well below the market rent in the area. This property offers a new owner the opportunity to infill the property and raise lot rents to market over time.
Market Lot Rent
  • Market lot rent in this area ranges from the high $200 to the mid $300 range for similar parks, offering a new owner plenty of upside based on current rates.
Utilities
  • This property is served by public utilities, with ownership currently paying for water which is billed back to the residents.
Local Management
  • This park is managed by a local manager that lives off site. They are paid $100 per month to read meters for water bill back and $275 per mowing for lawn care. They are also paid an additional $12 an hour for odd jobs as needed.
Portfolio Option
  • This property can be purchased individually, or as a portfolio with one or two parks located in Leon and Hartford, KS Contact Broker for additional details.
Seller Financing
  • The owner will sell the portfolio with the below seller financing terms Price: $750,000 Down Payment: $187,500 (25%) 5% Interest 20 Year Amortization Short term balloon
Nickerson, KS
  • Nickerson, KS is located outside of Hutchinson, KS which is just outside of the Wichita, KS Metro. The property offers a more affordable option for tenants, while offering an easy commute to larger employment centers in Wichita and Hutchinson. See the Deal room for MSA Data, or contact listing broker.
FOR MORE DETAILS CONTACT
Jason Bergan
Broker
(563) 880-9679
jbergan@c21sre.com
Noah Casterton
Broker
(715) 557-0651
noah@c21sre.com
Lic: S70126000
Drew Vlazny
Broker
(563) 880-6200
drew@c21sre.com
Lic: 71703