Bear Creek Dr Marengo, IA 52301
- Investment properties
- 7.88 lot acres
Current Use by Public Records
- Investment properties
Property Details for Bear Creek Dr
- Year built
- 1988
- Lot size
- 7.88 lot acres
- Property type
- Investment properties
Description
This exceptional investment opportunity presents a well-maintained manufactured home community situated on a spacious 7.88-acre lot in Marengo, Iowa. The property boasts a total of 40 lots, with a strong occupancy rate of 32 currently occupied sites. Adding to its profitability, 12 park model homes are included and are currently fully rented, contributing significantly to the property's impressive 9.5%+ capitalization rate. The community benefits from the convenience of city water and sewer services, with all utilities billed directly to residents, simplifying management and reducing operational complexities. This turnkey operation offers a substantial return on investment with minimal ongoing maintenance responsibilities. The seller is committed to a smooth transition and will provide training to the new owner, ensuring a seamless handover and continued success. This is an ideal acquisition for investors seeking a stable, high-yielding asset in a desirable location. The asking price is $1,250,000. Cash offers only
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marengo
- County
- Iowa
- State
- Iowa
- Longitude
- -92.0805
- Latitude
- 41.7952
