Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 7.1%
- Listing ID: 1515276
- Posted On: Sep 14, 2021
- Updated On: Apr 14, 2022
Description
Large 40 Acre Park Outside Des Moines, Iowa,
123 Licensed Lots:
24 Owner Occupied Lots @ 285
8 RV Occupied Lots @ 300
21 Park Owned @ 875
9 Homes under contract @ 800
Additional Fitness Area, Boat/RV Storage, Office, Playground and Laundry Room
40 Acres of Land Highly Assessed
57 Vacant Lots
4 Vacant Units (two rehabs)
City Water
*Park Pays Utilities*
Extremely Low Lot Rent For The Area.
Ask about our Pocket Listings:
Call Frank 727-592-2418
Info@BirchRealty.com
Location
Maxwell, Iowa is in Story County. As of the 2020 census, the population was 98,537. Just 30 miles outside of Des Moines, Iowa with a population of 215,636 thus making it the largest city in the state.
Amenities
- Laundromat
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 123 |
| Total Occupancy: | 55.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $285 |
| Size: | 40 acre(s) |
Financial Information (Actual)
| Gross Income: | $359,333 |
| Operating Expense: | $95,634 |
| Net Operating Income: | $263,699 |
| Expense Ratio: | 26.6 % |
RV Information
| Number of RV Lots: | 8 |
| Average RV Lot Rent: | $300 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 30 |
| Average Rent for Park-owned Homes: | $875 |
