Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 16.0%
- Listing ID: 1945417
- Posted On: Nov 30, 2022
- Updated On: Dec 6, 2022
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
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
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 % |
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 |