Riverside Mhc

About This Property

The Esterson MHC Team is pleased to present Riverside MHC, located in Rock Falls, IL, as a cash-flowing, value-add investment consisting of 109 MH lots with significant upside in both occupancy and rent growth. Located along the I-88 corridor connecting Chicago to the Quad Cities, Rock Falls and neighboring Sterling serve as a key economic region in northwest Illinois. Rock Falls is home to major employers such as Wahl Clipper Corporation, E.D. Etnyre & Co., and Self Help Enterprises, while the broader area benefits from a stable workforce and access to regional healthcare, education, and light manufacturing. The community offers access to the scenic Rock River, walkable neighborhoods, and a growing demand for affordable housing. Riverside MHC is a total of 109 MH lots, consisting of 65 tenant-owned homes (TOH, 1 Rent to Own Home (RTO, 4 vacant Park Owned Homes (POH, and 39 vacant MH lots, presenting a strong infill opportunity. The average lot rent is $320, with market lot rent estimated at $375, providing natural room for rental increases. Riverside is serviced by public water and sewer, which is directly billed to tenants. There is typically some overage in water/sewer usage that the park pays for. Trash is provided via curbside bins, also direct billed to tenants. Roads are paved and privately maintained and in average condition. The park lies partially within a flood zone, but is not in an Opportunity Zone. Riverside is being offered at a purchase price of $2,100,000, reflecting a cap rate of 7.0% on in-place operations. Investors may be able to achieve over 27% cash-on-cash returns by bringing vacant lots online and adjusting rents to market. All offers must include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.

Contact Information

From $99/mo · All 50 States · Owner Phone Numbers

Location

Nearby Parks