Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.2%
- Listing ID: 1352278
- Posted On: Nov 6, 2020
- Updated On: Dec 7, 2020
Description
6 unit Mobile home park in Donnellson, IA. Strong historical occupancy and well maintained homes. The 21 unit Motel directly next to the park may also be purchased, and is being offered at $150,000. The current owners planned to use the motel for 3 additional apartments, and use the remaining rooms as self storage. Contact Broker for more information.
Location
Small park within commuting distance to Fairfield, Burlington, and Fort Madison Iowa.
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Park Information
| Number of MH Lots: | 6 |
| Total Occupancy: | 83.0 % |
| Year Built: | 1975 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $19,500 |
| Operating Expense: | $10,475 |
| Net Operating Income: | $9,025 |
| Expense Ratio: | 53.7 % |
Lot Information
| Singlewide Lots: | 6 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 6 |
| Average Rent for Park-owned Homes: | $400 |
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