Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.2%
  • Property ID: 1352278
  • Posted On: Nov 6, 2020
  • Updated On: Dec 7, 2020

Property Description

6 unit Mobile home park in Donnellson, IA. Strong historical occupancy and well maintained homes. The 21 unit Motel directly next to the park may also be purchased, and is being offered at $150,000. The current owners planned to use the motel for 3 additional apartments, and use the remaining rooms as self storage. Contact Broker for more information.

Location

Small park within commuting distance to Fairfield, Burlington, and Fort Madison Iowa.

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Park Information

Number of MH Lots: 6
Total Occupancy: 83.0 %
Year Built: 1975
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $19,500
Operating Expense $10,475
Net Operating Income $9,025
Expense Ratio 53.7 %
Debt Info

Lot Information

Singlewide Lots: 6

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $400

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