Best Mobile Home Parks for Sale

Oakhaven Mobile Home Park is 100% occupied and may be expanded to fit 22 pads

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Mobile home parks for sale represent an investment opportunity for people looking to get into real estate. A mobile home park is a residential subdivision where the property owner leases out lots to mobile homeowners. In exchange for rent payments, mobile park owners maintain the infrastructure, like streets and common areas. 

The best mobile home parks for sale vary widely in price and location. Investors may work with a mobile home park broker to learn more about the industry and find a selection of properties that meet specific qualities. We explored properties for specific use based on the acre size, price, number of lots, financing, and more to find the best investment options.

Best Mobile Home Parks for Sale of 2021

Best Overall : Oakhaven Mobile Home Park


Oakhaven Park

Oakhaven Park

  • Price: $300,000 to $525,000 
  • Location: Janesville, California
  • Number of Lots: 12 spaces
Why We Chose It

Oakhaven Mobile Home Park is 100% occupied, and there’s a potential for seller financing, making this affordable mobile home park property an excellent choice for buyers. 

Pros & Cons
Pros
  • Room for expansion

  • A mix of single and double-wide sites

  • New pumphouse installed in 2020

Cons
  • Not near a major city

  • Self-maintained well and septic system

  • Higher cost per space

Overview

Located in Janesville, California, and constructed in 1972, Oakhaven Mobile Home Park is the only property on our list that’s 100% occupied and offers seller financing, making it our winner for the best overall mobile home parks for sale. 

Oakhaven Mobile Home Park contains 12 pads on 6.27 wooded acres, with room to expand up to 22 units. It has a mixture of single and double-wide units, recreational vehicles (RVs), travel trailers, and one site-built 400 square foot office or studio apartment. The trailer park is suitable for all ages, and rents start at $225 for a single-wide or RV pad.

Oakhaven Mobile Home Park relies on a shared well and septic. Renters supply their own propane tanks and have sub-metered electric pads. The park-owned-home (POH) was remodeled in 2015, and a new pumphouse and french drains were installed in 2020. The current septic system has a 6,600-gallon capacity and should handle a nine to 11 site expansion. 

As of July 2021, the gross annual income is $37,800, with the possibility of nearly doubling this amount by adding additional pads. However, the yearly expenses are $15,479, with an expense ratio of 40.1%. The Oakhaven Mobile Home Park is 65 miles from Reno, Nevada, and about 11 miles from Susanville, CA.

Best Return on Investment : Liles Mobile Home Park


Liles Park

Liles Park

  • Price: $405,000
  • Location: Tappahannock, Virginia
  • Number of Lots: 9 sites
Why We Chose It

Liles Mobile Home Park offers a 13.87% return on investment (ROI), which is the highest return of all properties on our list. 

Pros & Cons
Pros
  • Approved to add three additional lots

  • Six park owned mobile homes

  • A park-like environment with mature trees

Cons
  • Must request information for rent amounts

  • Located in a lower-income area

  • No details provided about electrical service

Overview

Liles Mobile Home Park provides a net operating income (NOI) of $39,000, has a 9.63% cap rate, and a potential return of 13.87%, making it a good investment for people wanting a higher ROI. 

This mobile home park for sale is situated on 6.67 acres in Tappahannock, Virginia, 45 minutes away from the bustling city of Richmond, Virginia. It was built in 1983 and features nine sites, eight of which have a mix of single and double-wide mobile homes. In addition, the mobile home park owns six trailers and rents them out. 

All sites have their own private septic systems, and the community shares one or more wells. Moreover, in April 2021, Essex County gave zoning approval to develop three additional lots, possibly expanding the income potential and ROI. However, Liles Mobile Home Park doesn’t offer details about expenses, but investors can request a rental outline.

Best Cost per Lot : Bloomfield Village


Bloomfield Village

Bloomfield Village

  • Price: $360,000 
  • Location: 200 Gregory Lane, Bloomfield, Iowa
  • Number of Lots: 32 lots
Why We Chose It

The price per lot is $11,250, which is inexpensive compared to similarly priced mobile home parks for sale. 

Pros & Cons
Pros
  • All public direct-billed utilities

  • City-maintained streets

  • Updated water lines

Cons
  • Park-owned units need updating

  • Only has a 31.3% occupancy rate

  • No site-built homes or offices

Overview

Bloomfield Village is located in an opportunity zone, giving investors a chance to secure an affordable piece of property with potential tax benefits. With a low per-lot price, Bloomfield Village earns the top spot for best cost per lot.

The Bloomfield Village mobile home park sits on 2.87 acres in Bloomfield, Iowa, which is located near several medical and educational facilities and a meat processing plant. It’s about 110 miles to the large city of Des Moines, Iowa, and 24 minutes away from Ottumwa, Iowa, the county seat of Wapello County. 

This property has several advantages, including direct-billed utilities, city-maintained streets, and concrete driveways. The recent owners updated water lines and cleaned up the property. Moreover, the $210 per lot per month rent is lower than the market average, leaving room for rent increases. Additionally, the opportunity zone may offer investors extra benefits, such as lower costs and taxes for capital improvements. 

As of July 2021, there are 10 tenant-owned homes and five park-owned homes. But, the park-owned properties require electrical updating before they can be rented out. Consequently, the occupation rate is lower than others on our list.

Best for Multi-Family Units : Silverbrook MH and RV Park


Silverbrook MH and RV Park

Silverbrook MH and RV Park

  • Price: $875,000
  • Location: 626 Silverbrook Road, Randle, Washington
  • Number of Lots: 18 pads
Why We Chose It

Silverbrook MH and RV Park also include three apartments, making an ideal situation for investors looking for a mobile home park for sale with multi-family units.  

Pros & Cons
Pros
  • Multiple current and potential income sources

  • High demand for rental units in the area

  • No rent control in Washington

Cons
  • Possibly higher maintenance expenses

  • Higher cost per lot

  • Details about property updates aren’t available

Overview

For investors searching for mobile home parks for sale with multi-family units, Silverbrook MH and RV Park provides multi-family apartment income. The three apartments located in the trailer park make Silverbrook MH and RV Park the clear winner for multi-family units. 

Silverbrook MH and RV Park features a 95% occupancy rate and includes three apartments, two single-family homes, 10 storage units, and 18 pads. The park was built in 1927 and sits on 3.7 acres with mature trees. Several pads are accessible through city-owned streets, and the owner pays for water, sewer, and trash utilities. 

It’s situated in Lewis County, Washington, which locals and tourists use to access Mount Rainier. Furthermore, the Silverbrook MH and RV Park is roughly 76 miles from Seattle, Washington, and 79 miles from Portland, Oregon. It sits close to a golf course, general store, and local restaurant. 

The NOI is $45,879, but current rents are below market level, leaving room for rent increases. In general, the 18 lot rents range from $250 to $650 per month; the three apartments are $545 to $750; and the 10 storage units are $35 to $80. An additional single-wide unit serves as a home for the on-site manager, and two single-family homes garner rents of $675 and $850 per month.

Best for Single-Family Units : Confidential Southeast Wisconsin MHC


Confidential Southeast Wisconsin MHC

Confidential Southeast Wisconsin MHC

  • Price: $1,375,000 
  • Location: Near Milwaukee, Wisconsin
  • Number of Lots: 36
Why We Chose It

The Confidential Southeast Wisconsin MHC features two single-family homes and 22 park-owned rental units designed for investors wanting to oversee several single-family properties.

Pros & Cons
Pros
  • Newly remodeled rental units

  • Some paved roads

  • Possibly lower expense to income ratio

Cons
  • The address isn’t listed

  • No details about the age of well or sewer system

  • Up to 17 sites may be prone to flooding

Overview

Along with lot rents, the purchasing party can earn income from 22 park-owned single-family rentals and two stick-built homes on the property, making it the clear winner as best for single-family homes. 

This all-age community sits on 5.22 acres and offers a prime location off I-94, a gateway to Milwaukee, Wisconsin, and Chicago, Illinois. Plus, it’s near a new Amazon distribution center and currently has a $400 average lot rent that’s below market value. The total sale price includes $200,000 for 22 park-owned single-family rentals that were recently gutted and entirely rehabbed. 

Most of the roads are paved, the residents pay for city-billed gas and electricity, and rely on a park-owned well and septic system. In addition, there are two site-built homes, and the park features a 77% occupancy rate. The NOI is $97,992, and the total revenue was $197,638 in 2020. Due to the lower costs and potential rental income from the single-family homes, this property has a potentially higher ROI than some other trailer home parks for sale.

Best Location : Place to Call Home


Place to Call Home

Place to Call Home

  • Price: $347,500 
  • Location: 1193 Hanawalt Road, Monticello, Indiana
  • Number of Lots: 33
Why We Chose It

This mobile home park for sale features low property taxes, represents a mix of commercial and residential property, and is located near a local tourist area. 

Pros & Cons
Pros
  • Affordable price and yearly taxes

  • Extra seasonal and year-round income opportunities

  • Huge 10-acre site

Cons
  • Only 13 lots currently in use

  • May require additional site work to add new lots

  • Roads aren’t paved

Overview

Located 10 minutes away from the popular Indiana Beach Amusement and Water Park and Lake Shafer, the Place to Call Home mobile park is a unique investment opportunity and wins our category for the best location. 

This mobile home park is situated on 10 acres, including 5.6 acres which are zoned commercial. It’s only a quarter-mile from the main highway, a 10-minute drive to Lake Schaffer, and offers three park-owned mobile homes. As of July 2021, there are 13 lots set up for use, of which four are vacant. Additionally, there are 20 lots open with utilities run to them and space to add an owner home or build storage units. There’s also a private well and well building on the property, a septic system, and a storage shed with a riding mower that’s included in the sale. 

Although the current gross income is only $3,230, there’s ample opportunity for growth. Buyers may take advantage of seasonal income by offering RV space rental or campground spaces. Plus, they could buy mobile homes to rent for the unused lots. The total annual real estate and personal property tax are $1,547.19, which is very low compared to nearby states, such as Illinois.

Best for Seniors : Winter Haven Mobile Home and RV Park


Winter Haven Mobile Home and RV Park

Winter Haven Mobile Home and RV Park

  • Price: $649,000 
  • Location: 2335 S Broadway Street, Truth or Consequences, New Mexico
  • Number of Lots: 24
Why We Chose It

Winter Haven Mobile Home and RV Park is an adult-only park near popular senior activities. 

Pros & Cons
Pros
  • All city services

  • Limited ground maintenance required

  • In an opportunity zone

Cons
  • No community center

  • Financial details aren’t available online

  • No room for expansion

Overview

Established in 1978, the Winter Haven Mobile Home and RV Park is a 55 and older community located in the county seat of Sierra County in New Mexico. This well-maintained community is near a golf resort, museums, and restaurants, making it a prime spot for seniors. 

Winter Haven Mobile Home and RV Park sits on about 2.98 acres and holds 13 mobile home sites plus 11 recreational vehicle pads. There are five park-owned homes, some of which had recent updates, including new flooring, light fixtures, and furniture. Additionally, some units may have wheelchair ramps and covered parking areas. The current owner rents out two of the units on Airbnb, and there’s also a large, 24 x 24 metal shed. 

All utilities are city services. Electricity and gas are directly billed to the mobile homeowner while the park owner pays for water, sewer, and trash. The mobile home park features a mix of single and double-wide homes and resides in an opportunity zone. Monthly lot rent ranges from $190 to $210 per month, and the owner implemented a $12 rate increase in January 2020.

Final Verdict

The best mobile home parks for sale offer an attractive piece of property, a mix of park-owned and tenant-owned homes, and provide a steady income stream with a high occupation rate. In addition, some offer seller financing, and investors have room to raise rents or expand the number of spaces. 

Oakhaven Mobile Home Park is 100% occupied and sits on 6.27 acres with mature trees. It recently had major updates, including a new pumphouse, and comes with a 400 square foot site-built space that can be used as an office, apartment, or transformed into a community space. Oakhaven Mobile Home Park is 65 miles from Reno, Nevada, and near the small city of Susanville, California, making it a good location for long-term residents and travelers. Its low price and expansion opportunities make it the winner of our best overall trailer park for sale. 

Compare the Best Mobile Home Parks for Sale

Company  Price  Location  No. of Lots  Size (in acres)  Purchase Options 
Oakhaven Mobile Home Park Best Overall $300,000-
$525,000
Janesville, CA 12 6.27 Cash, owner-financing loans, seller financed
Liles Mobile Home Park Best Return on Investment  $405,000  Tappahannock, VA  6.67  Cash and owner-financing loans 
loomfield Village Best Cost per Lot  $360,000  Bloomfield, IA  32  2.87  Cash and owner-financing loans 
Silverbrook MH and RV Park Best for Multi-Family Units  $875,000  Randle, WA  18  3.7  Cash and owner-financing loans 
Confidential Southeast Wisconsin Mobile Home Park Best for Single-Family Units  $1,375,000  Milwaukee, WI  36  5.22  Cash and owner-financing loans 
Place to Call Home Best Location  $347,500  Monticello, IN  33  10  Cash and owner-financing loans 
Winter Haven Mobile Home and RV Park Best for Seniors  $649,000  Truth and Consequences, NM  24  2.98  Cash and owner-financing loans 

How to Choose the Best Mobile Home Parks for Sale

Before picking the best mobile home parks for sale, consider the following:

  • Investment goals: Decide what you want to accomplish and a timeframe, such as the return on investment and return on any capital investments.
  • Budget: Think about your total budget for purchasing a mobile home park, including funds required for administrative fees and repairs.
  • Financing: Determine how much money is required for a downpayment and explore mobile home park loan options. 
  • Location: Select a geographic area that suits your business needs and goals.
  • Spaces: Narrow your search by choosing mobile home parks offering the total number of spaces needed to meet your income goals.
  • Services: Consider if you want all city services, such as sewer and water, or if you’ll accept sites with one or more private utilities.
  • Occupation rate: Filter mobile home parks for sale by picking an occupancy rate that you’re comfortable with.
  • Comparable properties: Take a look at comparable properties in your area and decide how much lower your selected property’s rents should be. 

Mobile Home Parks for Sale vs. Apartment Buildings

Mobile home parks often take the lead in the mobile home parks versus apartment buildings debate. Similar to apartment buildings, mobile park owners pay for and maintain property infrastructures, such as common areas and streets. But, they don’t pay individual apartment costs, as people supply their own mobile home and lease the land from the mobile home park owner. 

As a result, operating expenses and ongoing capital maintenance costs may be lower than apartment ownership. Additionally, the tax benefits may be better for mobile home parks. Land improvements may depreciate on an accelerated schedule, allowing owners to pay fewer taxes on properties. 

Frequently Asked Questions

Are Mobile Home Parks for Sale Good Investments?

Mobile home parks for sale can be good investments. They offer higher cap rates than multi-family housing, depreciate quicker, leading to tax benefits, and the operating expenses are often lower than other property types. Furthermore, tenant turnover is often less in mobile home parks compared to apartment buildings. These factors can make owning a mobile home park a profitable investment.  

Can I Receive Financing to Invest in Mobile Home Parks for Sale? 

There are several types of financing for investors interested in mobile home parks for sale. Bank and seller financing are two common methods used. Real estate financing through a bank typically requires a higher down payment, whereas seller financing may require a smaller down payment and longer payment terms. Another option is to enter into a master lease with the option to buy after a certain number of years.

How Much Do Mobile Home Parks for Sale Cost?

The cost to buy mobile home parks for sale varies widely, depending on the number of acres, residential spaces, availability of city services, and location to popular areas, such as college towns or larger cities. In addition, mobile home parks with higher occupation rates and low debt-to-equity ratios may garner higher bids. In general, mobile home parks on our list range from $300,000 to $1,375,000. However, a well-situated trailer home park can cost several million dollars, depending on the location and amenities. 

Methodology

We reviewed the best mobile home parks for sale by looking at real estate across the United States, including roughly 50 properties. We considered the property price, potential return on investment, and the total number of sites. We also examined the gross and net incomes, expenses, and type of maintenance required. Additionally, we evaluated properties based on the current lot rent versus market prices, the number of park-owned homes, types of units, and total acreage. Lastly, we checked out the local area, utility services, and the possibility of expansion.