Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 0.0% (Actual)
- Listing ID: 441953
- Posted On: May 7, 2014
- Updated On: Aug 7, 2014
Description
Amazing property with 950 ft of shoreline on Lower Gar Lake encompassing 4.55 acres. This tree-lined strip of property currently has 41 tenant-owned mobile homes with yearly rental income of $159,600. It is 100% occupied. This is a seasonal park, open mid April through mid October. In addition, across the road off lake is another 19.44 acres, currently farmland which is rented and could be developed into more mobile home lots, condos, patio homes, a resort, etc. The Possibilities are Endless! By boat, this property has access to Lower & Upper Gar Lakes, Lake Minnewashta, East Lake Okoboji and West Lake Okoboji. Offered for sale at $3,950,000. Call for details/financials. Tracey at Carlson-Sanderson Real Estate, 1306 18th Street, Suite C, Spirit Lake, Iowa 51360. Office: 712-336-3405, Fax: 712-336-3406, Agent's Cell: 712-330-0837.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 41 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1974 |
| Average MH Lot Rent: | $3,900 |
| Size: | 24 acre(s) |
Financial Information (Actual)
| Gross Income: | $159 |
| Operating Expense: | $33 |
| Net Operating Income: | $125 |
| Expense Ratio: | 20.8 % |
Lot Information
| Singlewide Lots: | 41 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $0 |
Video
Loading...