Lots: 25 (Plus 1 building with Apt. and laundry) Land Area: 1.710 Acres Occupancy: 100% Lot rent: $355 (Scheduled to $360.00 May 2017) Apt. Rent: $450 On-site Laundry City Water Centralized Septic System Park requires no onsite management Price: $840,000
Mobile Home Parks Mobile Home Parks are land-lease communities that allow home owners to rent space on which to place a mobile home (trailer, manufactured home). In addition to providing space, the community makes available utilities such as water, sewer, electricity, or natural gas, and may offer other amenities such as community rooms and playgrounds. There are over 35,000 mobile home parks in the United States ranging in size from 5 to over 1,000 home sites; of these about half range in size from 50-75 sites. Although most parks appeal to meeting basic housing needs, some communities specialize towards certain segments of the market, such as Over-55. Newer homes tend to be built to higher standards than their predecessors and meet local building codes. The industry had been able to resurge in the mid-to-late 1990s because it had virtually redefined its product. The old image of trailer parks, with metal-walled mobile homes and flat roofs, has been replaced, more or less, by an image of manufactured homes. Like the old mobile homes, a manufactured home is made in a factory and comes on its own chassis, with removable wheels that are taken off after it is delivered to its destination. Most parks today required the owner hide those origins, with wood exteriors, wood-framed windows, porches, and shingled, peaked roofs. In the northeast US, few parks have been developed in the past few decades, resulting in perhaps not a pent-up demand, but certainly a high occupancy rate, since there are virtually no low-cost housing ownership alternatives in the region. Further, due to the generally high occupancy, in conjunction with the captive tenancy, since rent is paid whether a home is occupied or not, operating parks with stable income and expenses are considered low risk income-producing properties, and are rarely sold.
Capital Improvements Updated Laundry Facility 2 new homes added in 2012 Paved 65% of park in 2012 Removed all old individual septic tanks and replaced with state of the art centralized treatment system. 2012 Total Capital Investment in 2012, $350,000
DISCLAIMER Prospective purchasers are hereby advised that the owner, Three j partners, ( owner ) of Riverbend MHC ( property ), is soliciting offers, which may be accepted or rejected by the owner at the owner s sole discretion. Any solicitation of an offer for the property offered hereunder will be governed by this offering, as it may be modified or supplemented. Prospective purchasers are advised that as part of the offer process, the owner will be evaluating several factors including the experience and financial qualifications of the purchasing entity. The owner shall have no obligation to accept any offer from any prospective purchaser. The owner reserves the right to withdraw the property from consideration at any time prior to final execution of a Purchase Agreement. This offering document is furnished to prospective purchasers for the purpose of determining whether to invest in the property offered. The information contained herein, or any other related information provided by the owners, may not be reproduced, redistributed or used in whole or in part without the prior written consent of the owner. No person has been authorized to give any information or make any representation or warranty, either expressed or implied and, if given or made, such information or representation must not be relied upon.
While the owner has no reason to believe that the information provided herein or in subsequent information updates delivered to potential purchasers hereunder contains any material inaccuracies, neither the owners nor any of the owners respective subsidiaries, affiliates, companies, or the officers, directors, employees, agents and representatives of any such entities, etc., make any representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the property or any other matters set forth herein. Any obligations to prospective purchasers that the owners may have with respect to the property are limited to those expressly set forth in a fully executed Purchase Agreement between the parties. Prospective purchaser s sole and exclusive rights against the owners, with respect to this prospective transaction, the property, or information provided herein or subsequently, shall be limited to those remedies expressly provided in an executed Purchase Agreement, which shall not survive the closing. Further, in no event shall prospective purchasers have any claims against the owner or any of its respective affiliates for any damages, liability, or causes of action relating to the Purchase Agreement. Prospective purchasers are not to construe the contents of this offering or any prior or subsequent information as communications from the owner or any of their respective officers, employees or agents as legal, tax or other advice prior to purchasing, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the property and arrive at an independent evaluation of such investment.
No commission or finder s fee shall be payable to any party by the owner nor any affiliate or agent thereof in connection with the sale of the property unless otherwise agreed to by the owner in writing. Acquisition of property such as that offered hereunder involves a high degree of risk and is suitable only for persons and entities of substantial financial means.