Whiteman Estates MHP and RV Park

Investment Summary

This portfolio contains a manufactured home community and a manufactured home community/RV Park in the town of Knob Noster, Missouri.

One MHC consists of 16 fully occupied sites, while the other property consists of 6 homes (5 occupied) and 7 RV Lots (4 occupied).

The locations of the two communities are 1064 NE 75, Knob Noster, MO (Whiteman Estates) and 510 Hillview Street, Knob Noster, MO (Whiteman RV and Mobile Home Park).

Whiteman Estates

This 16-pad community is just outside of the town of Knob Noster, Missouri. It is serviced by public water and a septic lagoon. The tenants are directly billed for their water usage and the community owners are responsible for the maintenance of the septic lagoon.

The manager is responsible for submitting monthly reports to the Missouri DNR to ensure the lagoon remains in compliance. The lagoon is in compliance and prior reports can be obtain for review during the due diligence period.

The community is fully occupied with a mix of rent-to-own tenants, park-owned homes, and one tenant owned home.

The community owners are responsible for the trash collection and the electricity used for the street lights and septic lagoon pump. All other utilities are the tenants' responsibility.

There is one street on the property. It is gravel and the community owners are responsible for the upkeep of the street.

There is an additional 3.92 acres adjacent to the community that is included in the purchase price. The land could be used to further develop the community and add more lots.

Whiteman RV and MHP

This property consists of 6 manufactured home pads and 7 RV pads. It is situated within the city limits of Knob Noster, MO and is serviced by 100% public utilities.

The manufactured home tenants are responsible for the payment of their water, sewer, electric, and gas bills, while the RV tenants have these utilities paid for by the park owner.

The trash collection bill is paid for by the park owner for both the manufactured home tenants and the RV tenants.

The roads surrounding the community are owned and maintained by the city of Knob Noster, but the road that runs through the park is owned and maintained by the park owner.