Up Town Park


Nickerson, KS 67561

Up Town Park

$159,900
Price
8.03
GRM
$31,980
Price Per Unit
5
Number of Units
10.21%
Cap Rate
 
 
$159,900
Price
8.03
GRM
$31,980
Price Per Unit
5
Number of Units
10.21%
Cap Rate
 
 

Investment Overview

  • Up Town Park is a 6 lot 55+ community, which also features a one bedroom single family home. The single family home was recently remodeled, offering low maintenance for future ownership. Currently, lot rent is $200 per month and includes water, sewer, trash, and common area mowing. This offers a new owner the ability to raise rents to market overtime, and also offers the ability to bill back utilities to reduce operating costs. Park Owned Home rent is $270 above lot rent, offering further upside for new ownership. The single family home is rented for $520 per month which is slightly below market rates.

Utilities and Infrastructure

  • The park is served by public utilities which are believed to be the original cast iron, but are in solid operating condition. Electrical pedestals have been replaced since the owner purchased the park in 2010 and are all believed to be 100 amp service. Contact Broker for Additional Details

Park Owned Homes/Rent to Own Home

  • Lot 1: POH: 2001 Skyline 14x60 2 bed/ 1 bath Lot 2: RTO: 2000 Liberty 14x60 2 bed/1 bath Lot 3: POH: 2009 Waverly 12x37 1 bed/ 1 bath All Electric Home Lot 5: POH:1958 Victor 10x50 2 bed/ 1 bath POH and RTO Payments are $270 above lot rent for a total of $470 per month. Current ownership has separate agreements for lot rent and RTO/POH rent. The current RTO contract has roughly one year of payments left as of 07/01/2026 Titles are in hand for all Park Owned Homes Contact Broker for Additional Details

Additional Information

  • Current Ownership uses lot 3 as their personal residence when they are at the park and has intentionally left the 1958 Victor Home Vacant. Lot 3 is an all electric home, current ownership pays a total of roughly $30-40 per month in electric for lots 3 and 5. There are two storage sheds and additional parking behind lot 7 (6 North Paine). One storage unit is rented to lot 2 and is included in their rent, current ownership uses the other shed for personal storage. Contact Broker for Additional Details

Financial Analysis

  • The Financial Analysis was based on renting the two vacant park owned homes and raising lot rents to $300 per month, while leaving the park owned income as is. Each following year assumes a 3% lot rent only increase. The single family home was raised to $650 to more closely align with market rates. No consideration was given for further rent to own contracts or outright sales, offering further upside for new ownership depending on their investment strategy. Contact Broker for Additional Details.

55+ Community

  • Current ownership runs the park as a 55+ community by choice, new ownership is not required to operate the park as a 55+ community depending on their personal investment strategy. Contact Broker for Additional Details.

Nickerson, KS

  • Nickerson is located in Reno County, Kansas and has a population of 1,060 residents. Nickerson is located 15 minutes from South Hutchinson, KS which has a resident of roughly 40,000. This offers residents at the community a small town feel, with easy access to employment and amenities in the surrounding area.

Major Employers

  • Major employers in the area include Hutchinson Regional Medical Center, Siemens Gamesa, Collins Aerospace, Tyson Foods, Morton Salt, as well as local agricultural and manufacturing facilities.
FOR MORE DETAILS CONTACT
Jason Bergan
Broker
(563) 880-9679
jbergan@c21sre.com
S65228000 (IA)