Considering purchasing a park and here are the basics:
• Park was built in 1978
• 33 spaces
• Gravel roads gravel pads
• Yearly taxes $2,700.00
• Purchase price: under $75,000
• Most of the electric pedestals are original and many would need to be replaced.
• 4 abandoned homes (not worth repair as the windows were busted after vacant)
• Small Midwest town of around 1,000, within 50 miles of larger communities, 20 miles to a population of 10,000.
• City is stable, not really growing, not dying.
• City water / sewer, but outside city limits (master meter)
• Was full or near full up until late 2016 (have seen google earth images)
• Owner died and things went to hell really quick. Park had a couple of issues that caused it to vacate (water bill not paid, and a sag in the sewer main caused some backup) Local officials say not a major issue, one day’s work with backhoe.
• Has recently been re-approved for proper zoning with county with some acceptable stipulations.
• City has agreed to continue water / sewer service
• City, and county are wanting it reopened and are cooperative
• Have talked with the local mobile home repair guy who works alot in the area. Said there are homes available within a reasonable distance that could be purchased and moved in. He is also willing to do work as needed.
• I would also want to add some new units with the CASH program
With all of that said, would you consider purchasing this park?