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Ludlow Mobile Home Park 224 N Poplar St 12 Unit Mobile Home Park $315,000 ($26,250/Unit) 11.10% Cap Rate Ludlow, IL 60949
INVESTMENT HIGHLIGHTS
- Affordable starter park!
- Strong metro in Champaign County!
- Predominantly TOH or RTO homes!
- Vacant SFR could be renovated!
EXECUTIVE SUMMARY
Rare opportunity to acquire a stable, cash-flowing mobile home park in Champaign County with immediate upside. The quiet community includes 12 pads (10 occupied, 1 nearly ready for sale, 1 vacant SFR for renovation/lease-up). All mobile homes are tenant-owned or owner-financed, resulting in zero mobile home maintenance costs. Current lot rent is $450/month, plus $25,000 in mobile home mortgages not included in the cap rate.
Recent improvements include over $150,000 invested in plumbing and gas line replacements, expanded parking, new lighting, and property cleanup. Utilities are tenant-paid (water rebilled, direct gas & electric).
Current operations support an 11.1% cap rate with 16%+ pro forma, plus seller is open to holding a $50,000 second note at 6% interest-only, 3-year balloon. Attractive entry price of just $26,250 per residence with value-add potential.
As of December 2025, all tenants are up to date on rent. Seller will guarantee two months of rental income for all currently occupied units, after purchase date.
Recent improvements include over $150,000 invested in plumbing and gas line replacements, expanded parking, new lighting, and property cleanup. Utilities are tenant-paid (water rebilled, direct gas & electric).
Current operations support an 11.1% cap rate with 16%+ pro forma, plus seller is open to holding a $50,000 second note at 6% interest-only, 3-year balloon. Attractive entry price of just $26,250 per residence with value-add potential.
As of December 2025, all tenants are up to date on rent. Seller will guarantee two months of rental income for all currently occupied units, after purchase date.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $315,000 | Apartment Style | Low-Rise |
| Price Per Unit | $26,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.18 AC |
| Cap Rate | 11.10% | Building Size | 1,100 SF |
| No. Units | 12 | Average Occupancy | 75% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 2000 |
| Zoning | Improved Commercial (0060 | ||
| Price | $315,000 |
| Price Per Unit | $26,250 |
| Sale Type | Investment |
| Cap Rate | 11.10% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.18 AC |
| Building Size | 1,100 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 2000 |
| Zoning | Improved Commercial (0060 |
1 1
PROPERTY TAXES
| Parcel Number | 14-03-01-456-003 | Improvements Assessment | $21,320 |
| Land Assessment | $5,940 | Total Assessment | $27,260 |
PROPERTY TAXES
Parcel Number
14-03-01-456-003
Land Assessment
$5,940
Improvements Assessment
$21,320
Total Assessment
$27,260
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Ludlow Mobile Home Park | 224 N Poplar St
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