Yale Realty and Capital Advisors is pleased to present the exclusive opportunity to acquire a 75+ site stabilized manufactured home community in Eastern Iowa, with a low interest assumable agency loan and high levered return.

The tenant mix is extremely desirable with only 1 vacant lot and 4 vacant homes. The remaining 94% of the lots are occupied with either tenant owned homes or homes on an RTO contract. The community is on municipal water and sewer, with both already submetered and billed back along with trash. Lot rents are about $50 below market, leaving some upside for the next owner.

Another exciting element of this deal is the assumable agency loan currently on the property. It’s a 4.5% interest loan with 2.5 years remaining on an I/O period and 8 years left on the full term. The principal balance left is about $2.5 million. This low interest and I/O period allows for an unbeatable 16% cash on cash in year one.

Given the rare opportunity to acquire a stabilized 75+ site community with 94% occupancy, municipal and submetered utilities, attractive financing already in place that allows for a 16% cash on cash in year one, this would make an extremely strong addition to any investor’s portfolio.

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