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Address is 625 Beck Avenue Remsen, IA 51050

Dena Plendl

Plendl MH Park

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Mobile Home Park for Sale in Remsen, Iowa

625 Beck Avenue
Remsen, IA 51050

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Mobile Home Park for Sale

Number of MH Lots: 25
Size: 5 acre(s)
Purchase Method: Cash, New Loan
Status: Active
Property ID: 927416
Posted on: May 12, 2018
Updated on: Aug 17, 2018

Property Description

Great investment opportunity. Profitable family owned and operated for 30 years. 25 lots, all individual metered. City sewer, water, electric and gas. Park does have lift station to move sewer to public sewer. Updated in 2017 with a state of art control panel and new pumps. Still under warranty.

Great community in a small town. Only 13 miles to Ice Cream Capital Wells Blue Bunny Ice Cream. Several large trucking companies and manufacturing companies in same city. Lots of employment here and a strong need for affordable clean rental housing.

MH Park includes 14 park owned homes that are mostly newer with shingled roof with vinyl siding. Lot rent is $200 on the other 6 homes. 20 total homes in park and 5 empty lots used for campers or put a home on them and make more money. Room to expand with eventual purchase of 3 acres next to park.

Many updates include a new heated storage building with basement built in 2015. Larger shed used for storing mowers, parts and supplies. Street is paved. Individual parking for 2 cars or more for each lot. Park owns 4 garages - 1 triple car, 2 car and 1/2 and 1 two car garage. Lot rent is $200 - homes that park owns rent for average of $600.

All the homes are in great shape and require little repairs. Homes have clean titles and can be sold on contract or continue to rent them. Nice setup and well maintained by family. Property taxes are affordable, they have actually gone down as they county is changing rates from commercial to multi-housing.

Semi-Toter with special hitch to haul single wide homes included. Smaller unit, but we have hauled plenty with it and it runs good. 4x4 truck with plow blade and mower included in sale.

This is a well maintain and lovely park, a great opportunity. Call to discuss 712-540-9596.

Park Information

Number of MH Lots:25
Total Occupancy:98.0%
Year Built:1982
Average MH Lot Rent: $200
Size:5.0 acre(s)

Financial Information (Actual)

Gross Income$110,000
Operating Expense$30,000
Net Operating Income$80,000
Expense Ratio 27.3%
Debt Info

Lot Information

Singlewide Lots:19
Doublewide Lots:6
Triplewide Lots:0
Park Model Lots:0

RV Information

Number of RV Lots:4
Average RV Lot Rent: $550

Utility Information

Water Paid By: Tenant - Individual Service

Park-Owned Homes

Number of Park-owned Homes:14
Average Rent for Park-owned Homes: $600