67677 250th ST, Colo, IA 50056

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The MHP Value Team is relaunching Lakeside Living Mobile Home Park, a 41-unit community located in Colo, IA. The seller has lifted the consent order on lagoons (see regulator contact info and communication in DD materials) and filled two vacant sites.

This asset offers immediate cash flow and room for growth, featuring 26 tenant-owned homes paying $440 per month, 7 long-term RV renters paying $440/month, a rentable 1,200 sq. ft. shop projected to bring in $500+ per month, and 7 vacant lots equipped with full infrastructure for easy infill. The seller has also spoken with the county about developing the front and east sides of the park, and based on initial conversations, the town has been supportive, as the lagoon capacity can accommodate the expansion.

The investment strategy for Lakeside Living centers on bringing rents to market rate, renting out the repair shop, and infilling the remaining 7 vacant lots, all of which have existing utility hookups. Beyond that, an operator can further increase revenue by expanding the community’s lot count through the addition of new homes on the unused land.

An investor has the opportunity to acquire a stabilized 100% TOH community that has room for expansion and an entry cap rate of 8.4%.

Important Note to Prospective Buyers from Pace Morby: Congrats to all new members of the Pace Morby “Creative Finance” and “Subto” communities. We appreciate your interest and enthusiasm. Please note that we work exclusively with qualified, verified buyers. Our clients are not seeking first-time purchasers attempting to acquire mobile home parks with no capital investment. We will also not share proprietary Seller information with any intermediaries, including, but not limited to, scouts, “bird dogs,” or third parties.