Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 16.0%
  • Property ID: 1945417
  • Posted On: Nov 30, 2022
  • Updated On: Dec 6, 2022

Property Description

Great mobile home community in the beautiful rolling hills of north central Iowa. This park has residents that have been on site for over 40 years. Due to the established vendor relationships, this park runs very smoothly, with very little interruption or headache. With 6 vacant pads, as well as below market lot rents, this park could make an added 30-40,000 annually with virtually zero added expenses.

Location

4 acres of land in town.
21 pads w/ utilities provided by the city of Calmar paid direct by each tenant: including: Water, Sewer, Trash, & Electric. Tenants pay for Natural Gas through a 3rd party.

Amenities

  • Storage
  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 21
Year Built: 1975
Average MH Lot Rent: $260
Size: 4 acre(s)

Financial Information (Actual)

Gross Income $91,600
Operating Expense $16,026
Net Operating Income $75,774
Expense Ratio 17.5 %
Debt Info

Lot Information

Singlewide Lots: 21
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $635

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