M&W MHC

Iowa Broker of Record: Kevin Crowley, SIOR - NAI Iowa Realty Commercial

M&W Mobile Home Community is a 129-space community located in Muscatine, Iowa, twenty minutes west of the Quad Cities.​ The community currently sits at 51.2% occupancy, with an average lot rent of $368.56 per month.​ When surveying the market comps, nearby communities boast an average occupancy rate of 92.6%, with lot rents ranging from $430 to over $550 per month.​ These data points highlight the strong demand for affordable housing in the area.​ M&W is serviced by private utilities, which are outsourced to a third-party professional utility management company for daily testing and maintenance.​ Over the past twelve months, the ownership group has invested over $500,000 in capital expenditures to resurface the roads, remove dilapidated homes, and make other community enhancements, alongside the addition of brand-new inventory homes.​ With these improvements, M&W is well-positioned for rapid infill and lease up.​

Currently, there are ten brand new three bed, two bath Clayton TRU Elation homes onsite which are under the 21st Mortgage CASH Program.​ This loan balance with 21st Mortgage will need to be assumed at closing outside of the park value of $3,250,000.​ Please review the sale package for more information.​

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  58 Tenant Owned Homes

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  $500K+ in Recent CapEx Completed

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  Strong Market Demand - 92% Avg. Occupancy in Comps

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  Average Lot Rent of $505 in Rental Comps

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  Third Party Professionally Managed Utility System

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  Robust Market Fundamentals

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  POH Debt to be Assumed Outside of Park Purchase Price