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About the Listing WCLK01 - TDERRIGA
Caesar's Country Acres is an all-age community located in De Soto, Missouri, approximately 45 miles south of St. Louis. The property includes two tax parcels situated on 10.24 peaceful acres, and features 14 income producing units: 4 cottages, 8 park-owned mobile homes, and 2 pad rentals with tenant-owned mobile homes on them. See supplements or photos for details on the beds/baths, rents, and improvements done during the sellers’ ownership. Outbuildings include a 40x30 storage barn (currently unused) with 16x8 garage door, and three storage sheds (two currently unused). Caesars Country Acres is served by a well system and a wastewater stabilization lagoon system, both of which are in good working order. The lagoon, located at the rear of the property, is a septic 3-cell treatment plant that is tested quarterly. Zoning is R-40 (see supplements for full detail). Potential value add plays could include raising lot rents, selling park-owned homes to tenants (on contract or outright) to lower operating costs, improving insurance costs, improving garage to rent as secured storage, renting the unused sheds, updating unrenovated units / raising rent as units turn, and expansion. There is potential for 26 additional pads (check with the county for specific requirements); utilities are already sized for more pads. The park-owned mobile homes are unattached and thus taxed as personal property – a savings for the buyer. 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 – a 12.02% cap rate at asking price. 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.
Listing Highlights
Status
Active
Days on Site
7
Property Type
Multi-Family
MLS ®
26009958
Year Built
1940
Total Square Footage
0
Lot/Acreage
10.24
County
Jefferson
Neighborhood
Caesars Country Acres
Area
399 - Desoto
School District
Desoto 73
Elementary School
Athena Elem.
Middle School
Desoto Jr. High
High School
Desoto Sr. High
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Ceiling Fan(s),Central Air
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Well
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
- Parking Features: Driveway,Gravel,Off Street
Financial Details
- Tax Amount: $4,149
- Taxes w/Assessments: N/A
- Tax/Property ID: 23-8.0-28.0-0-000-019
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
2902 Clay St De Soto, MO 63020
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