BIG CEDAR MOBILE HOME COMMUNITY - PRICE DROP!
2020 NOI: $124,268
Cap Rate: 10.2%
Number of Spaces: 47
Land Size: 8.8 Acres
Sewer: Treatment Plant
- City Water, Residents Billed By Occupancy
- Quality Park Owned Homes
- Opportunity to Increase NOI to Over $220k per Year by Renovating 6 Vacant Park Owned Homes & Bringing in New Tenant Homes to Fill Vacant Lots
- CLICK HERE to Download Offering Memorandum
If you want to be an absentee owner with little hands-on management and a fantastic return on investment, Big Cedar is the park for you. The current owner has been blessed with year-over-year revenue growth while only visiting the community once every 9 to 12 months to check in. This is made possible by the screening/leasing/invoicing processes that have been implemented, and by a dedicated, long term, on-site husband & wife management/maintenance team.
On-site management handles advertising, tenant screening, leasing, groundskeeping, snow removal, rental home maintenance, make-readys, day to day tenant questions and conflict resolution, and was key in coordinating and actually completing renovations on the large number of long-vacant park owned homes that were present when the current owner took over.
The current owner handles monthly tenant invoicing, insurance, and paying utility bills. The next owner could choose to keep these responsibilities, or shift them to the competent on-site manager for a truly automated investment.