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Park Information

The South Mobile Home Community is located in the heart of South Hutchinson, KS. The property consists of 21 lots, of which, 12 are occupied.
Lot rents are well below market at $190/month per month. Similar lot rents in the area are in the high $200 to mid $300 range for mobile homes. A new owner would have the opportunity to raise the lot rent to the market rate over time or upon purchase.
There is one stick built home on the property which is rented to long term tenant at $400 per month

Financial Analysis

All numbers listed in the financial analysis are actuals based on rent collection and expense records provided by current ownership. Year two financials are based on raising lot rents to $275 across the board and raising the single family home rent by $200 per month.
Years 3-10 were based on a 3% lot rent raise across the board, which is likely below levels that could be attained by future ownership. Infill opportunity was not taken into consideration for future income, offering further potential for a new owner wishing to infill the property.

Opportunity Zone Investment

South Hutchinson, KS is located within an opportunity zone, offering new ownership the added advantage of lower capital gains on a heavy value add opportunity.

In-Fill Opportunity

With 12 of the 21 lots occupied, a new owner has the opportunity to bring in homes to the community and raise the occupancy.

Bill Back Water and Trash Expenses

The owners of the community are currently paying for the water and trash expenses of the tenants. A new owner would be able to recuperate the cost of water via sub-metering and distributing the trash costs to the tenants.

Property Being Sold As-Is

South Hutchinson, Kansas

South Hutchinson is a city in Reno County, KS with a population of 2,500 residents. The city is a suburb of Hutchinson, KS which has a population of 40,000 residents. Hutchinson, KS is the county seat of Reno County and is located less than an hour from downtown Wichita.

Subject Property

This community is located one block west of Main St. in South Hutchinson, KS. The property is conveniently located a block from a local bank, Dollar General, and a child care center.
Nearby industries include a livestock auction yard (borders the park to the north), Morton Salt, Tysons Food Distribution, and Collins Manufacturing.