Edgetown Mobile Home Park - for Sale in Newton, Iowa
3044 Highway 14 North
Newton, IA 50208
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Mobile Home Park for Sale |
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| Number of MH Lots: | 21 |
| Size: | 8 acre(s) |
| Cap Rate: | 10.0% |
| Purchase Method: | New Loan |
| Status: | Active |
| Property ID: | 107625 |
| Posted on: | Nov 03, 2011 |
| Updated on: | Apr 09, 2012 |
| Price: | $220,000 |
Property Description
NEW PRICE!!
This is a great opportunity to get started in the mobile home park business! Edgetown is an easy to operate property with low turnover and almost zero delinquent rents.
Property includes 21 site mobile home park and one site built rental home.
4 homesites vacant.
1 home sale contract is included in the sale.
City water, and lagoon for sewer.
No park owned homes.
Location Description
Since 2004, more than $100 million has been invested in urban renewal projects, commercial development, and the new NASCAR Iowa Speedway – all of which translate to community growth and vitality.
Edgetown MHP is located in Newton, IA county seat of Jasper County.
Population of Newton is approximately 15,000
Newton is located on I-80, 30 minutes east of Des Moines, IA which has a population of approximately 203,000
Major employers are Newton Community Schools, Skiff Medical Center and TPI Iowa, a wind turbine blade manufacturer
Park Information
| Number of MH Lots: | 21 |
| Total Occupancy: | 81.0% |
| Year Built: | 1975 |
| Average MH Lot Rent: | $220 |
| Size: | 8.0 acre(s) |
Financial Information (Actual)
| Gross Income | $50,840 |
| Operating Expense | $19,572 |
| Net Operating Income | $31,268 |
| Expense Ratio | 38.5% |
| Debt Info |
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