Friendly Village

Sales Price: $900,000.00

Sales Price: $900,000.00
No. Spaces: 99
Price/Space: $11,111
Property Type: Family
Cap Ratio: 5.31%
Net Operating Income: $$64,991
Lot Size: 19 Acres Acres

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Friendly Village is a 99 Space Family Park located in Kimberly, Idaho. Land size is approximately 18.88 +- acres. Built in several phases starting the mid 1970’s and the latest addition finish approximately in the 1990’s. Of the newer section there are 32 open spaces, all utilities are installed to spaces.

MANAGEMENT/PARK OWNED HOMES: There are 3-4 park owned contracts, the current manger’s home is individually owned. The manger has been there for some year and operates a well maintained community.

UTILITIES: The community is operated by city services. Owners pay water, sewer and garbage. Irrigation water is not currently accessed, new buyer needs to investigate the accessibly of the irrigation water. Seller currently pays for the service but has never connected. The utility cost has been extremely high this year due to excess watering with city water. It would be recommended to install irrigation water source and individual metered and charge tenants for water/sewer cost.

RENTS/OPEN SPACES: The rents are currently $250, owner currently pays water, sewer, and garbage. A rent increase notice or metering could be enacted first of the year. The market rents would support this pass through (see rent comparable page). There are currently 32 open spaces, great market for pre-owned homes sold on Seller contracts or promoting new sales from local dealers.