Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 1729415
- Posted On: Aug 8, 2022
- Updated On: Oct 27, 2022
Description
This quiet community consists entirely of tenant owned homes on 25 acres located within the Dubuque County seat. The property features a generously wide asphalt roadway with parking along either side for easily accessible homes. Current lot rents are below market value which leaves plenty of room for upside to a new owner. Current financial projections exclude the infill of the additional lot the property is zoned for.
Location
Dubuque, IA is a city of approximately 98,000 people and growing. Dubuque is nestled on the west side of the Mississippi River and is a commercial, industrial, educational and cultural hub for the tri-state area of Iowa, Illinois and Wisconsin. Dubuque boasts plenty of river based recreation and is also home to the National Mississippi River Museum & Aquarium.
Dubuque is home to several major employers to include John Deere, MercyOne medical center, and various local area employers.
Dubuque is located approximately 20 miles from Platteville, WI which is home to the University of Wisconsin-Platteville. Located approximately 60 miles South of Dubuque, the Quad Cities (population 383,000) is home to five colleges, hospitals, numerous manufacturing and agricultural careers, as well as a wide variety of various careers.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 35 |
| Total Occupancy: | 83.0 % |
| Average MH Lot Rent: | $280 |
| Size: | 25 acre(s) |
Financial Information
| Gross Income: | $117,600 |
| Operating Expense: | $46,020 |
| Net Operating Income: | $71,580 |
| Expense Ratio: | 39.1 % |
Utility Information
| Water: | City |
