South Park MHC

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.​

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  Strong economic market

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  Ability for increased short term income through RTO contracts

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  Stabilized property

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  Major Capex items completed within last four years