Welcome to Onawa, IA. This park has the small town vibe but is located just 25 minutes from the big city of Sioux City, Iowa with a population of 83k.
The park is 6.6 acres and currently has 22 city connected lots (Water, Electric, Gas) with the plans to add 30 additional spaces. THERE ARE NO HOMES ON SITE NOW.
Park was full at one time but owners passed and the park suffered. Back taxes, empty units and abandoned items made the park look even worse.
We entered this project by paying off all the back taxes, city fines and local debt. We removed all the old units (6 total ) and removed a large grove of over 400 tree's while the park was empty so that it could be expanded to 50+ units, allowing for the potential to obtain a DUS loan. City would like this to move forward and has offered help in several ways in meetings.
Present day: There are three partners in the project. One partner lives in a nearby town and has a mobile home park and some other rental units. One partner is retiring this year and moving overseas and the last, is out of state and is ready to step into retirement as well. Bottom line, this is the only reason we have decided to sell.
Opportunity:
Sioux City has added a very large pork processing plant in three phases. Phase two is completed and over 1000 new jobs are up and running. During market research for the park, there was a waiting list of people wanting a home. With the last phase moving to the area the demand is high. Lot rents are $400 in this area now.
Terms:
70k down.
The remaining balance can be paid off over time (we can talk about this)
Buyer pays closing which should be minimal.
Property currently zoned as a Mobile Home Park and the city has no plans to change this (letter in writing). Park is located on the edge of town with several lots from the previous owners taken back for taxes.
Water/Sewer/Gas/Electric previously ran to site and separately metered. May need to re-prep utilities.
Community Planning & Development, Utilities and Mayor all behind the development of the land.
If needed, the lift station will be upgraded directly by the city. All maintenance on the lift station has been conducted by the city in the past.
Location:
220 E Granite Street Onawa, Iowa aka Maplewood Mobile Home Park
Situated 37 minutes south of Sioux City, Iowa and 1 hour north of Omaha Nebraska