Lu-Wil Mobile Home Estates

Property Description:

Well maintained and managed older mobile home park with a single family house on 2.29 acres and adjacent single family house on .81 acre parcel zoned R-2C. Site rents are very low at $330- $535 plus submetered gas, electric, and water, sewer $11.30 and trash $35.00. Last rent increase was two years ago and $20. Market site rents are $500-$550 and there is no rent control in the City of Highland. The house with the mobile home park has 2 bedrooms and 1 bath and is approximately 1,196 square feet with a 405 square feet garage/storage building and rents for $825. The house on the adjacent parcel has 3-4 bedrooms and 1 bath and is approximately 1,632 square feet and rents for $905. Market rent for the houses is probably $1,250-$1,500. The mobile home park has a closed 440 square feet laundry building that Broker recommends to be reopened and used. The park is serviced by city and water utilities. The electrical system main panel and one of the circuits was replaced new in 2013. The .81 acre parcel R2 zoning allows 12 units per acre or an additional 8-9 mobile home sites or apartments. The manager knows the park is for sale. Please contact Broker to setup appointment to visit.