2902 Clay Street, De Soto, MO 63020

Located approximately 45 miles south of St. Louis in De Soto, Missouri, Caesar's Country Acres is an all-age community situated on 10.24 acres. The property comprises two tax parcels and features 14 income-producing units, including 4 cottages, 8 park-owned mobile homes, and 2 pad rentals with tenant-owned mobile homes. Outbuildings include a 40x30 storage barn with a 16x8 garage door (currently unused), and three storage sheds (two currently unused). The property is served by a well system and a wastewater stabilization lagoon system, both in good working order. The lagoon, located at the rear of the property, is a septic 3-cell treatment plant that is tested quarterly. The zoning is R-40. Potential value add plays could include raising lot rents, selling park-owned homes to tenants to lower operating costs, improving insurance costs, improving garage to rent as secured storage, renting the unused sheds, and updating unrenovated units and raising rent as units turn. The park-owned mobile homes are unattached and thus taxed as personal property. Occupancy rates are very high, retention is strong, and unit turns are short. The homes are older but many are newly renovated and in good shape. Current monthly rents total $8920; there is currently one vacancy, a cottage that’s being renovated by a laborer/tenant in lieu of rent. With existing rents and a pro forma $820 for the cottage, the annual operating income is $116,880. Less operating expenses of $53,241, that’s an NOI of $63,739. De Soto is in Jefferson County, is one of the fastest growing counties in state. The city is known as “Fountain City” because of the numerous artesian wells. Union Pacific Railroad, Wal-Mart and De Soto SD are the largest employers.