Contact Information
Jason Bergan
License: S65228000
Mobile Home Park Details
- Price: $220,000
- Cap Rate: 8.5%
- Listing ID: 6208632
- Posted On: Jun 13, 2024
- Updated On: Jun 20, 2024
Description
This community has 20 total lots and one single family home. Currently, there are 11 occupied mobile homes on-site. The lot rent and the rent for the single family home will be increased to $200 and $510/month, respectively, in August 2024. There is one park-owned home that rents out for $420/month, but will be increased to $440/month in August.
The community is serviced by rural water and a septic pond. The rural water is billed back to the tenants each month. Garbage dumpsters are provided by the community owners. The other utilities are all directly billed to the tenants.
The current owners are responsible for mowing the vacant lots, road
maintenance (gravel road), tree trimming, and plowing the snow.
There is a $30 fee that is charged for tenants that do not mow their
yards.
See the Offering Memorandum for more details.
Location
Keokuk, IA has a population of about 10,000 people, a median annual
household income of $48,000, and currently 62% of residents own their home, while 38% of residents rent.
The largest industries in Keokuk are Manufacturing (21.2%),
Healthcare (20%), and Food Services (10.5%).
The largest employers in the area include: DuPont Chemicals,
Conagra Food Processing, Roquette Pharmaceuticals, American
Ordnance, Great River Health Systems, Siemens Gamesa Renewable Energy, and the Iowa Fertilizer Company.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 55.0 % |
| Year Built: | 1977 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $38,088 |
| Operating Expense: | $19,399 |
| Net Operating Income: | $18,689 |
| Expense Ratio: | 50.9 % |
Lot Information
| Singlewide Lots: | 20 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $440 |
