Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 5.2% (Actual)
- Listing ID: 2114302
- Posted On: Mar 7, 2023
- Updated On: Sep 12, 2023
Description
Located about 30 minutes south of Iowa City, this park and storage facility is available for $385,000. The park has 8 vacant lots and the storage facility has 41 units that range between 90%-95% occupancy throughout the year.
The owner would be willing to sell the parcel with only the storage facility for $275,000.
There are 41 storage units on the property:
21 10’x20’ at $70/month
11 10’x10’ at $50/month
4 5’x10’ at $35/month
2 10’x5’ at $35/month
3 8’x20’ at $65/month
*The 8’x20’ units are shipping containers that are located on the property
The mobile home park has 8 lots that are all currently vacant. The income information below is 2022 actuals from storage income only.
Location
This property is located 10 miles north of Washington, IA on Iowa Highway 1. It is approximately 30 miles south of Iowa City.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 8 |
| Total Occupancy: | 0.0 % |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $28,595 |
| Operating Expense: | $8,457 |
| Net Operating Income: | $20,138 |
| Expense Ratio: | 29.6 % |
Lot Information
| Singlewide Lots: | 8 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
