Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.5%
- Listing ID: 3382790
- Posted On: Jul 17, 2023
- Updated On: Nov 21, 2024
Description
This 15 lot mobile home community currently has 8 tenants, 4 POHs and 4 TOHs. POHs are included in this sale and leave a new owner upside with contracted sales to tenants.
An additional lot is included with this sale leaving room for additional lots.
Location
Wapello is located on HWY 61 which offers a direct commute to the
Muscatine and Burlington, IA metros. Wapello is also located near
Columbus Junction, which is home to a large Tyson Foods Inc.
packing plant. The packing plant is currently expanding and adding
a third shift, which has caused an increase in the demand for
affordable housing in the area.
The subject property is located on HWY 61, offering an easy
commute and central location for tenants. The park features
minimal roads, and has no thru traffic due to the road design. This
offers low overhead and ease of maintenance for new ownership.
Park Information
| Number of MH Lots: | 15 |
| Average MH Lot Rent: | $235 |
Financial Information (Actual)
| Gross Income: | $28,980 |
| Operating Expense: | $4,041 |
| Net Operating Income: | $24,939 |
| Expense Ratio: | 13.9 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
