Contact Information

Jason Bergan
License: S65228000

Century 21 Commercial

CONTACT BROKER

Price: $700,000
Purchase Method: Cash, New Loan
Cap Rate: 10.2% (Actual)
Listing ID: 6912092
Posted On: Jun 5, 2025
Updated On: Jun 5, 2025

Description

The subject community features 14 lots, with 13 homes and one garage currently on site. There are six park owned homes and seven tenant owned homes. Lot rent is currently slightly below market at $315 per month, and park owned homes average $605 per month above lot rent. The property is currently 100% occupied, offering new ownership an easy transition into an established community.

New ownership could sell the park owned homes on contract to reduce expenses, or could continue the current park owned home rental model for increased long term income. The four stall garage on site is currently not being utilized, and could be rented by new ownership for an additional income stream.

The community is served by city water and city sewer, and all utilities are billed to the tenants directly. With little common area and full occupancy, this property is perfect for either a newer investor looking to get started, or an experienced investor looking for an addition to their portfolio.

Currently there are six park owned homes, all of which are occupied. The park owned home rents average $605 above lot rent. See below for the location, year, and make of the park owned homes:

Lot 2: 1999 Duchess
Lot 3: 2000 Commodore
Lot 6: 1995 Dutch LTD
Lot 9: 2024 Adventure
Lot 10: 1994 Skyline
Lot 13: 2004 Redman

*Contact Broker for Offering Memorandum*

**Sale is subject to a 1031 Exchange**

Location

Alta, Iowa is a community of over 2,000 located in northwestern Iowa. It is located 6 miles west of Storm Lake, Iowa (pop. 12,000), which is home to Buena Vista University (a 4-year liberal arts university) and a Tyson meat processing plant which employs about 2,500 people.

Alta is located about 60 miles north and east of Sioux City, Iowa (pop. 87,000). Sioux City is home to the headquarters of Bomgaars Farm and Ranch Supply, Seaboard Triumph Food Processing, three secondary colleges and universities, a large public school system, and multiple hospitals.