Contact Information

Mobile Home Park Details

  • Price: $2,500,000
  • Purchase Method: New Loan
  • Cap Rate: 10.9%
  • Property ID: 1734505
  • Posted On: Aug 15, 2022
  • Updated On: Oct 13, 2022

Property Description

Current RV rent is $588/month, but the owner is raising the rent to $650/month in November 2022. Each pad has full utility hook-ups. The owner pays for all utilities (see expense breakdown in later pages). There are 14 septic tanks that are pumped and inspected yearly. All the electrical hook-ups are 30, 50, and 100 amps. The current owners have hired full time management that live in a new mobile home at the entrance of the park. They currently manage all check ins and check outs, as well as day to day activities. They are paid a flat rate of $1,000 per month plus housing expenses.

Location

This campground is a long running business with repeat clients and new clients. It's located less than 30 miles from downtown Des Moines, making it a prime location for area residents to visit. There is a private river access for clients to use that gives them access to the Des Moines River. Webb's RV Park is located above the Des Moines River, offering scenic views, without the risk of flooding. The property adjoins directly next to Iowa's Largest Public area which is managed by the US Corps of engineers. The Des Moines River and Red Rock management areas provide many nearby opportunities for boating, fishing, and other recreational activities.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 100
Year Built: 1980
Average MH Lot Rent: $588
Size: 43 acre(s)

Financial Information (Actual)

Gross Income $434,850
Operating Expense $161,337
Net Operating Income $273,513
Expense Ratio 37.1 %
Debt Info

RV Information

Number of RV Lots: 100
Average RV Lot Rent: $588

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Video

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