Laurens, IA MHC

This property features 27 pads with 7 currently occupied. All 7 homes are currently Tenant Owned. The property is served by city utilities, all of which are separately metered and direct billed to the tenants. This offers new ownership increased income through infill and lot rent increases, without added expenses to the bottom line. There is a strong demand for affordable housing in the area, with major employers located in nearby Pocahontas, IA which has a hospital, multiple schools, and manufacturing plants.

Currently, lot rent is set at $100 per month, well below the area average of $250+ in this area. This property offers upside by raising lot rent to meet the current market. Additional upside is available through infill at an updated lot rent rate.

Laurens is a farming community located in Pocahontas County, IA. The town is a 10 minute drive from the county seat in Pocahontas, IA. Pocahontas has several employers including a local hospital, multiple schools and manufacturers. The town of Laurens is also roughly an hour from the communities of Fort Dodge, Eagle Grove, Spencer, and Clear Lake. All of these areas have manufacturing, food packing, and large scale agricultural industries, leading to strong demand for affordable housing in the surrounding areas.