I have two mobile home parks (21 lots and 30 in the other) in a town in South East Iowa.
Portfolio Highlights:
Total Lots: 51 (21 in one park, 30 in the other).
Location Advantage: Both parks are just a mile apart, simplifying management and operations.
Utilities: City water and city sewer. Both parks are master metered with digital submeters, ensuring ease of billing back to each resident.
Gas & Electric: Directly billed to residents - no middle management hassle.
Trash: Total cost of $384/mo for both parks.
Park Electricity: Only $72/mo covers both parks, primarily for a few streetlights.
Current Occupancy:
Occupied Lots: 31 (14 in one park, 17 in the other)
Vacant Lots: A potential growth of 20 vacant lots for the ambitious owner.
Tenant-Owned Homes: 11
Park-Owned Homes, rehabbed and Sold on Contract: 20
Financials:
Blended Lot Rent: $322/mo
Blended Home Contract Payment: $257/mo
Average Home Contract Price (balance remaining): $17,334
A few things to note:
All newer residents are all paying $350/mo lot rent, but we still have 5 paying $270, and 8 paying $320/mo building in an immediate upside on day one by bringing everyone up to current rates.
The parks have no additional amenities or buildings to maintain.
The close proximity of both parks makes managing easy, especially since our on-site park manager handles both.
Clean phase 1 report completed
Not interested in owner financing.
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