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Address is 205 Mill St Southeast Des Moines, IA 50169

Tony K


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Mitchellville Mobile Home Park

Mobile Home Park for Sale in Des Moines, Iowa

205 Mill St Southeast
Des Moines, IA 50169
Sale Price: $249,000

Mobile Home Park for Sale

Number of MH Lots: 14
Size: 1.3 acre(s)
Cap Rate: 11.5%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 783959
Posted on: Feb 09, 2017
Updated on: Feb 12, 2017
Price: $249,000

Property Description

$3800 gross per month!
Significant opportunity to increase rents even up to $100 extra per month per space!
14 space park
CITY WATER & CITY SEWER
15 minute drive to Des Moines
Walking distance to downtown Mitchellville... Restaurants, Bars, Banks, Library etc

Out of state owner. Park runs itself.
Rents are deposited to our local bank account by the tenants.
Residents plow the driveway themselves, without any cost to us. Same goes with grass.
Great offsite manager for $100/month. I have not been to property in over 3 years.
Lot rent is $280, which includes water, sewer and trash.

Reason for selling: Need capital to expand my other business

Selling below market for quick sale. Asking only $249,000.

BRING ALL OFFERS.
SELLING BELOW MARKET FOR QUICK SALE.
MOTIVATED SELLER. WILL CONSIDER ALL OFFERS.

Text or email for quickest response
Tony: 210-802-7717

Park Information

Number of MH Lots:14
Total Occupancy:93.0%
Average MH Lot Rent: $280
Size:1.3 acre(s)

Financial Information

Gross Income$45,600
Operating Expense$16,980
Net Operating Income$28,620
Expense Ratio 37.2%
Debt Info

Lot Information

Singlewide Lots:13
Doublewide Lots:1

Utility Information

Water:City
Water Paid By: Park
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:1
Average Rent for Park-owned Homes: $405