2809-2811 Hoover Ave

Happy to work with Buyers Agent! Two Mobile Home - UnZoned land with space for additional home Investment Opportunity - Tenant Occupied Mobile Homes | Strong Cap Rate (Current = 16.52% | Pro Forma = 19.2%) Net Operating Income: $14K We are pleased to present a fully leased mobile home investment opportunity offering immediate cash flow and long-term upside. Located in a stable rental market, this property features two well-maintained mobile homes on a good sized plot, unzoned - with space & opportunity for adding additional mobile homes. With both units currently rented, investors can benefit from income stability and the potential for increased rents through cosmetic updates, and taking advantage of the unzoned land. Unit Mix: Unit 1 (2809): 2 bedrooms, 1 bathroom Unit 2 (2811): 2 bedrooms, 1 bathroom Tenant Utilities: Tenants pay Electric, Gas, water || Landlord Expenses: Trash Recent Capital Improvements: : New stretches of sewer line towards road, new subfloor in 2809 (all except bathroom), new kitchen cabinet (2809), new oven (2811 / 2809). Known potential repairs: New gravel on driveways - not likely to increase rent or anything. 2811 - one bedroom floor is soft in a section. Tenant currently has a board over it. Can repair easily - tenant hasn't wanted to coordinate time for resolving for now. 2809 - Some cabinetry repair needed for doors Opportunities for increasing Value / Rents: Increase rents in line with Market opportunity Opportunity to add an additional mobile home or two - with it being unzoned much easier to do that. Based on Illinois law for spacing requirements - plenty of space to add to the lot.