South Park MHC is a 55+ community located in the highly sought after Des Moines, IA market. Currently there are 24 homes on site, offering new ownership the ability to acquire a stable property in a strong growth market. Current ownership runs the community as a park owned home community, offering new ownership additional upside through the sale of the homes, and the ability to establish lot rent rates upon entry.

Current ownership is responsible for water, trash, and snow removal, with the residents direct billed for all other utility services. New ownership could bill back water and trash, or add water meters in order to reduce operating expenses.

All tenants are currently month to month, with many being long term tenants. Currently there is an on site manager at the property that receives free lot rent in exchange for assisting with collections, park maintenance, etc.

Since acquiring the property in 2020, current ownership has spent over $750,000 in capital improvements to the property. The community has new pex water lines throughout, new sewer lines, new electrical runs, and newly paved park streets. Current ownership has also rehabbed all of the homes and performed minor infill. Current owners are still working to improve the property throughout the sale process by adding patios to the lots for the current tenants and renovating the currently vacant homes.

Owners are open to seller financing or a seller second for qualified investors. Terms are negotiable, but seller prefers a 3-5 year term.

Contact Broker for Additional Details.