216 Cedar Cove LnBurfordville, MO 63739

Property Details for 216 Cedar Cove Ln

Property type

Mobile home & RV parks

Description

This exceptional investment opportunity presents Cedar Cove Mobile Home Park, a thriving 21-unit community nestled in Burfordville, Missouri. Boasting a strong 8.99% cap rate and a substantial net operating income (NOI) of $98,846, this property offers significant returns. The park comprises 15 occupied, park-owned mobile home sites, each generating an average monthly rent of $760. Adding to the income stream is a six-unit apartment building, with five units renting for $800 per month and one for $850. Built in 2010, the park sits on 10.5 acres with gravel roads, conveniently located two hours south of St. Louis and 30 minutes northwest of Cape Girardeau. The property utilizes public water and a private, low-maintenance lagoon sewer system. Residents are directly billed for water and electricity. The average age of the mobile homes is 1998. This turnkey operation is priced at $1,100,000, offering a compelling price per pad of $52,381. The surrounding area boasts a population of 102,619 within a 20-mile radius, ensuring a stable tenant base and future growth potential. The sale includes the real estate and the mobile homes.

Location Insight

City

Burfordville

County

Cape Girardeau

State

Missouri

Latitude

37.379

Longitude

-89.757

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