$160,000

Arma Manor MHP is a charming 16-pad manufactured home park situated on 1.79 acres in Arma, KS. The age of the park is not known by the current owner. Zoned RP-2, the city permits the operation of the MHP under this zoning designation. All tenants conveniently pay their rent through the Rent Manager online portal. Additionally, the park employs a part-time onsite greeter. While the park currently contracts a mowing service, due to downsizing, a maintenance person has not been necessary. The pads at Arma Manor average 60' x 90'. There are currently zero homes slated for removal from the property. Presently, there are two occupied pads on the premises, accounting for 12% occupancy. Both occupied homes are park-owned homes (POH), with current rents ranging from $495 to $600 per month. The park holds titles for both POHs. Additionally, there are no vacant trailers being held for back taxes. Arma Manor operates with month-to-month leases, and rent prices have remained unchanged for over 2.5 years. City water and city sewer!!! The waterlines are primarily PVC for both water and sewer systems. Electrical pedestals supplying 100-200 amps to each pad were upgraded in 2005. It is believed that all vacant pads have access to water and electricity, although a few may require connection to the gas line, as the current owner is unsure. Residents are directly billed for their electricity, gas, and water by their respective providers. The park covers the cost of garbage removal through dumpster services. The gravel roads throughout the park are considered to be in good condition and are maintained privately. Additionally, the park takes care of mowing the entire premises. The current owner bought this park in late summer of 2021, during the height of the trailer shortage after COVID. The owner had other parks in Columbia, MO, and Kansas City, MO that he was trying to infill, but he couldn't source trailers at the time. He purchased this park for the park-owned homes on the premises and moved them to his other parks in the larger markets. The park is extremely clean, and the owner notes that future improvements would include adding trailers and a playground. This park is too small for the current owner's portfolio, so he has decided to sell it. This is a unique opportunity to purchase a manufactured home park in great condition, providing an affordable opportunity to enter this asset class. Note from owner: Note that these rents have not been increased since we bought the park. I did rent two homes (homes have since been moved out of the park) a year and a half ago at $625/m (small 2 bed, 1 bath) and $750/m (3 bed, 2 bath) to give you perspective. The park netted over $50,000 in 2019 & 2020 with just 10 of the 16 pads occupied. This was the last full year of financials prior to the trailers being moved to other parks. PHOTOS IN THIS OM WERE TAKEN PRIOR TO ALL BUT TWO OF THE TRAILERS BEING REMOVED FROM THE PARK. ONLY LOTS 3 & 4 REMAIN IN THE PARK. MR. LANDMAN, LLC is licensed as a Kansas real estate firm, license #CO00003312. Jonathan Fisher is a licensed supervising broker in Kansas, with license #00247140.