Rolling Hills MHP
123 Licensed Lots within 30 minutes of Des Moines, IA MSA
Marketing description
Rolling Hills MHP is an all age community located 20 minutes south of Ames, IA and 25 minutes north of the Des Moines, IA MSA. The property is zoned for 126 pads and currently has 81 developed sites, 42 undeveloped licensed sites, and the possibility of further expansion on the western side of the property. The property is currently served by public water and a private sewer lagoon.
Lot rents at Rolling Hills are at a modest $320 with similar communities ranging from $400 - $580 per month. This offers new ownership the ability to raise lot rents to market over time for realistic and attainable equity.
The property currently consists of 16 tenant owned homes, 16 park owned homes, 8 rent to own homes, 16 abandoned homes, and 3 resident RVs.
Ownership pays for water, which is not billed back to the tenants. New ownership could bill back water to further decrease expenses.
Current Ownership is willing to offer seller financing to qualified and experienced operators.
The financial analysis assumes debt based on the below preferred seller financing terms.
Down Payment: 30%
Interest Rate: 5%
Term: 5 Years
Amortization: 30 years
Contact Broker for Additional Details
Investment highlights
Below Market Rents
Within 30 minutes of Des Moines and Ames, IA MSAs
Value Add Opportunity through Infill and Further Development
Potential to Connect to City Sewer
Listing Contacts
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