Mobile Home Park Details
- Listing ID: 3851370
- Posted On: Oct 18, 2023
- Updated On: Jan 15, 2024
Description
Cushman & Wakefield Iowa Commercial Advisors is pleased to present the exclusive offering of Villa Village. This community is located adjacent to Montgomery County Hospital and near restaurants and shopping. It is zoned for 116 sites. The property has City water and City Sewer, with the water meters owned by the City, read by the City, and direct billed to the tenants by the City.
This is a economically viable mobile home park. The location is on a four lane highway and there is quite a lot of industry, medical and government jobs. A new memory care facility has just been built across the street from Villa Village. The hospital is minutes away. Unemployment is below 5%. Surrounding uses included a church, farm ground, and medical.
Location
Red Oak is a city in and the county seat of Montgomery County, Iowa, located along the East Nishnabotna River. Red Oak derives its name from Red Oak Creek which flows through the community and was noted for the red oaks on its banks. The population was 5,362 in the 2020 census. Montgomery County is located in the
southwestern area of Iowa. As of the 2020 census, the population was 10,330. The county has been largely rural and devoted to agriculture. Red Oak is 60 miles east of Omaha. The closest metro airports are Omaha (1-hour) or Des Moines (2.5 hours).
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 116 |
| Total Occupancy: | 32.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $365 |
| Size: | 24 acre(s) |
Financial Information (Actual)
| Gross Income: | $166,440 |
| Operating Expense: | $136,658 |
| Net Operating Income: | $29,782 |
| Expense Ratio: | 82.1 % |
Utility Information
| Water: | City |
| Sewer: | City |
