The Oaks MHP-Under Contract

$ 550,000.00

  • Property ID: 2297
  • Type:
  • Post Updated: 2022-04-13 11:24:57
  • County: Buchanan
  • Area: 9.7 acres
  • Year built: 1955
  • Spaces: 46
  • Vacant Spaces: 13
  • Utilities: City Water, City Sewer
  • Lot Rent: $ 310.00
  • NOI: $ 62,491.00
  • Cap Rate: 11.4

Description

Fantastic 46-site community in stable market of Independence, IA. Local market has a dearth of affordable housing. Park is located along Waspi River, a local tourist attraction. There has never been a flood event at the community. Current owner expanded park to include 6 RV sites along riverfront in 2005. The addition has been very popular to the point of having a wait list for the 6 sites. With municipal and state DNR approval, tenants may install their own dock (insurances, fees, upkeep are tenant expenses). Rent collections are solid and all tenants are screened. This easy to manage park is great for a local investor, a person new to MHP investing, or someone looking to expand their holdings in the area. No licenses or permits required to operate in Iowa. There are many mature trees. Last tree trimming was in 2021. Streets were resurfaced in 2021.

http://properties.iowacommercial.com/theoaksmhp

 

This style property is located in is currently and has been listed on Joanne M. Stevens Real Estate Team. This property is listed at $ 550,000.00. It has bedrooms, bathrooms, and is 9.7 acres. The property was built in 1955 year.