West Oak Park is an all age community located in Newton, IA, less than 30 minutes from the Des Moines, IA metro. Lot rents are currently $200, with market rates at comparable properties ranging from $350-$400 per month. The property features 8 park owned homes, 3 tenant owned homes, and one single family home for a total of 12 rental units. There is also 1 single stall and 5 double stall garages on site. Current ownership bills the tenants back each year for the property taxes associated with the garages, lowering operating costs.

Current park owned home rents average $578 above lot rent per month ($778 total). Similar mobile homes for rent in Newton charge between $800-$1,000 per month for single wides, offering additional upside for future ownership.

Of the 8 park owned homes, 7 are single wide units, and 1 is a double wide.

Utilities: West Oak MHC is serviced by public utilities with tenants paying for gas and electric directly. Current ownership pays for trash service and water, with water billed back to the tenants each month. Historically the sellers have billed back water at a 100% recapture rate plus a small maintenance fee.

Contact Broker for OM and additional details.