Contact Information
Jason Bergan
License: S65228000
Mobile Home Park Details
- Price: $385,000
- Purchase Method: Cash, New Loan
- Cap Rate: 5.2%
- Property ID: 2114302
- Posted On: Mar 7, 2023
- Updated On: Mar 7, 2023
Property 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.
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.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
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 % |
| Debt Info |
Lot Information
| Singlewide Lots: | 8 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
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