Pre-Owned Mobile Homes
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Its about 110 miles to the large city of Des Moines, Iowa, and 24 minutes away from Ottumwa, Iowa, the county seat of Wapello County. In a resident-owned community, if you don’t like how the park is being managed, you can run for a position on the board of directors and make improvements inside the organization. The members elect a board of directors, which appoints committees to do different tasks and manage the day-to-day operations of the organization. Northcountry Cooperative Foundation provides the board with a management guide and teaches board members effective ways to run the cooperative. This includes, but is not limited to, how to set up a financial record-keeping system and how to use resources to improve the roads, water, electric and waste-water systems. Four Seasons Estates is an active restricted 55+ community of over 300 homes.
My beautiful bride who has been by my side now for more than four decades is our vice-president. The groups with which we work closely, ROC USA and the Cooperative Development Institute, continue to offer guidance and training which I take advantage of at every opportunity. With guidance from LEAP, Pleasant View residents have joined together to form a cooperative and take out a $1.65 million loan $1.39 million for the land, plus funding for infrastructure improvements. Is there anything you’d like to know about owning and leasing park-owned homes? Zillow Group is committed to ensuring digital accessibility for individuals with disabilities.
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The trailer park is suitable for all ages, and rents start at $225 for a single-wide or RV pad. Oakhaven Mobile Home Park is 100% occupied, and theres a potential for seller financing, making this affordable mobile home park property an excellent choice for buyers. The Bloomfield Village mobile home park sits on 2.87 acres in Bloomfield, Iowa, which is located near several medical and educational facilities and a meat processing plant.
The total annual real estate and personal property tax are $1,547.19, which is very low compared to nearby states, such as Illinois. As a trade-off to higher returns, many investors acquiring mobile home parks do not want the responsibility of maintaining mobile homes. The expense ratio on parks where the tenants own all or most of the homes is lower and far less labor intensive for park management and maintenance. The returns tend to exceed apartments and can be more passively owned.
Maplehill Mobile Home Park
Bloomfield Village is located in an opportunity zone, giving investors a chance to secure an affordable piece of property with potential tax benefits. With a low per-lot price, Bloomfield Village earns the top spot for best cost per lot. It was ROC USA and the Cooperative Development Institute who guided us through turning this run-of-the-mill mobile home park into a flagship resident-owned community.
The information contained herein is believed to be accurate, but no warranty as such is expressed or implied. But, you are now in a community that may end up selling unexpectedly. You may awaken one morning to find that the mobile home park is now owned by a corporate entity and your space rent is increasing by 20-40%. This increase is usually justified by an increase in property taxes that the new corporate owner has to pay along with an attempt to bring space rents up to inflated market rates. This is the decision many mobile home park investors make when deciding on which property to acquire; a park with a higher density of “park-owned” homes or one with “pads-only”/less than 25% park-owned.
Tripp Mobile Home Park
Besides, I love what I do here, and I am happier living here and serving this community than I have been anywhere in my life. On May 13th our president signed the papers that officially made us a resident-owned community. Immediately, a Board of Directors was formed and I was elected to sit on that board with eight of my neighbors. Ultimately, I became treasurer and chairman of the membership committee. It sounds crazy… (and yes, I put a line through “really likes” to make sure you understand how much they love park-owned homes). Save this search to get email alerts when listings hit the market.
Last year, more than 80,000 homes were sold on MHVillage with a combined transaction value exceeding $3 billion. In contrast to age-restricted communities, all-ages communities cater to families, young adults, and basically anyone else who wants to live in an affordable, community-centric development. These parks often have kid-friendly amenities to keep youngsters busy, including pools, basketball courts, playgrounds, and organized activities. You’ll find everyone from young families to retirees enjoying community life in attractive, cost-effective homes. Oakhaven Mobile Home Park contains 12 pads on 6.27 wooded acres, with room to expand up to 22 units. It has a mixture of single and double-wide units, recreational vehicles , travel trailers, and one site-built 400 square foot office or studio apartment.
Buying a Home in a California Mobile Home Park
Fri, Dec 2, 2022 – If you are planning on purchasing a home in one of California’s 5,229 mobile/manufactured home and RV parks, here are your basic options in order of Best to Worst Case Scenarios. Our pre-owned mobile homes have been very well cared for and come with gas and electrical certification. Also working against the homeowner is that whole mobile misnomer. Todays manufactured homes may be better built, more energy-efficient and far more customizable than stick-built homes, but one thing they are not is mobile. It’s been a recurring story in the Treasure Valley in recent years mobile home parks are sold and razed for new development. CALDWELL Juana Romero thought she and her family were going to need a new place to live when the owner of the mobile home park she lives in put the property up for sale.
We have seen homes rent in a range of $250 to $900 depending on the age of the unit and the market area. An older unit can be purchased very inexpensively and the rental income from this home can pay for itself in a short time. These units require a higher level of maintenance and possibly replacement over time. These are typically purchased as reposed properties at a discount from their NADA value. Since fewer of these are sold each year as chattel property, the availability of these units is diminishing.
We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please let us know. Your home’s equity is somewhat protected when an RSO is present.
They are specifically designed to provide owners and renters of manufactured homes with plots of land to rent, with a wide range of valuable services and amenities included in the price. This mobile home park is situated on 10 acres, including 5.6 acres which are zoned commercial. Its only a quarter-mile from the main highway, a 10-minute drive to Lake Schaffer, and offers three park-owned mobile homes. As of July 2021, there are 13 lots set up for use, of which four are vacant. Additionally, there are 20 lots open with utilities run to them and space to add an owner home or build storage units. Theres also a private well and well building on the property, a septic system, and a storage shed with a riding mower thats included in the sale.
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