Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 13.0%
- Listing ID: 12810
- Posted On: Jun 2, 2010
- Updated On: Nov 22, 2011
Description
Green Meadows Estates. Extremely motivated sellers. Recent major life changes for us make this a great deal for you. So Make us an offer! Would consider financing with 20% down however will be more flexible on price with cash offers.
332 W. 2nd Street & 516 W. Mamie Eisenhower Boone, IA 50036 Spaces: 26 + prepped for a potential of 18 more lots Vacant Spaces: 6 Average Lot Rent: $155 for singles and $170 for doubles. Averaging $158/space Number of Park Owned Homes: 2 are being sold on contract.
REDUCED!!! Asking Price: $130,000 Excellent potential for huge gains as owners have started renovation but due to unexpected life changes are no longer positioned to complete the job. These lots are not included in the total existing lot count. New motivated buyers could finish the renovation and increase the total lots by 30% very quickly.
Comes in two sections. Court A has been renovated and is ready for homes. New water lines, new pavement. We cleared the older homes in preparation for the renovations. Has the potential for an additional 11 homes. Currently has lots completely ready for 4 new homes. Court B has been the primary source of income while doing the renovations on Court A. It currently has 20 lots. Has space to expand for additional lots or put storage buildings, etc however would need City approval.
City water and sewer. Rent includes garbage. Current owners are no longer positioned to take this to our dream investment. With New motivated and energetic owners what was started could be finished and increase the value of the property significantly. REDUCED!!! Asking Price $130,000
Park Information
Number of MH Lots: | 26 |
Average MH Lot Rent: | $155 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |