Englewood & Cheney
RV ParkWichita, Sedgwick County, Kansas
Listing Details
- Asking Price
- $5.7M
- City
- Wichita
- County
- Sedgwick County
- State
- Kansas
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About Englewood & Cheney
Sunstone Real Estate Advisors is pleased to present the opportunity to acquire a two-park, 186-site manufactured housing portfolio offering a diversified mix of tenant-owned homes, community-owned rentals, and RV sites. Overall, the portfolio is currently approximately 63% occupied with average lot rents of approximately $427/month, providing a balanced profile of in-place cash flow and value-add potential.
With an established operating base and multiple revenue streams, the asset offers both immediate income and scalability through lease-up. The portfolio also presents an opportunity to convert community-owned homes into Lease-to-Own agreements, preserving tenants’ existing rent obligations while shifting maintenance responsibilities and generating an attractive yield on cost.
This offering features substantial upside through the infill of 40 vacant sites, enabling a phased lease-up strategy without the need for additional development. Projected occupancy is expected to increase to nearly 82% by stabilization, supporting meaningful revenue growth. Additional upside is driven by below-market rents, with consistent annual rent increases positioning average rents to grow from approximately $427 to $487/month.
Ancillary income streams, including utility reimbursements and other charges, further enhance total revenue and operational leverage.
Financially, this portfolio offers a compelling blend of current yield and forward-looking growth. In-place operations generate positive cash flow today, with Net Operating Income projected to grow from approximately $44K to over $740K by year 3, driven by occupancy gains and rent growth. Expense ratios are expected to compress significantly—from approximately 93% currently to ~39%—as fixed costs are spread across a larger occupied base.
Overall, this is an attractive opportunity to acquire a scaled manufactured housing asset with meaningful infill potential, below-market rents, and multiple operational levers to drive NOI growth, making it well-suited for investors seeking both durable income and long-term value creation.
Frequently Asked Questions
How much does Englewood & Cheney cost?
Englewood & Cheney is listed at $5.7M. Request full financials through Parkvestor for a direct introduction to the listing broker.
What type of property is Englewood & Cheney?
Englewood & Cheney is a RV park located in Wichita, Kansas, currently listed for sale.
Where is Englewood & Cheney located?
Englewood & Cheney is located in Wichita, Kansas. Browse more parks for sale in Kansas on Parkvestor.
How do I get more information about Englewood & Cheney?
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