Mobile Home Park Details
- Cap Rate: 12.6%
- Listing ID: 1886263
- Posted On: Sep 15, 2022
- Updated On: Dec 16, 2022
Description
Jennifer Stein Cooperating Broker of Record. License #AC90603538
Nice well maintained park in a small Iowa town with a demand for housing. Large employers in the area support the labor force. Many residents have been in place for years. Park consists of 20 Pads, 15 are occupied comprising 5 Tenant owned & 10 Park owned homes. Upside potential is realized by infilling the park and bringing rents up to market levels. Management is willing to stay for 8% of gross rents. The vendor list is also available with local contacts. Easy to maintain grounds with tenants taking care of the landscape. Located inside City limits with ALL City utilities; Water, Sewer & Trash.
Location
Calmar Iowa is a scenic small town located in North Eastern Iowa.
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Park Information
Number of MH Lots: | 20 |
Total Occupancy: | 77.7 % |
Year Built: | 1970 |
Size: | 3 acre(s) |
Financial Information (Actual)
Gross Income: | $100,800 |
Operating Expense: | $15,320 |
Net Operating Income: | $62,980 |
Expense Ratio: | 15.2 % |