Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.9%
- Listing ID: 1734505
- Posted On: Aug 15, 2022
- Updated On: Dec 6, 2022
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
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 % |
RV Information
| Number of RV Lots: | 100 |
| Average RV Lot Rent: | $588 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
