Applewood Estates

Applewood Estates is an all age community with 45 lots, 38 of which are currently occupied (84% occupancy). The property consists of all Tenant Owned Homes. There is the potential of developing an additional five to ten lots if a new owner wishes to further expand the property. Currently lot rent is $375 which is below market, offering new ownership upside within the first year of ownership. Current ownership pays for trash service which could be billed back to residents, lowering operating expenses by an estimated 5%. Water and Sewer are direct billed to residents with ownership paying for the overages between the master and sub meters. The property is currently managed by an off site manager who is paid $300 per month. Listing Broker has an additional offering of 40 pads within 20 minutes of the subject property. Contact Broker for additional details.

The property is served by 100% public utilities, with current ownership paying for trash service, water overages, and security lighting. Water, sewer, gas, and electric, are all direct billed to residents. The community streets are gravel. Contact Broker for additional details.

Income is based on the current occupancy and lot rent charged. Current owner is experiencing roughly a 5% economic vacancy rate.

Nebraska City is the county seat of Otoe County, NE and has a resident population of 7,000. The city has a growing population and has also seen a growing household income in recent years. Median household income is $68,000 per year based on the most recent data. Nebraska City has multiple big box stores including Walmart, Dollar Tree, Tractor Supply, and many more.

Applewood Estates is located on the North West side of Nebraska City with convenient access to HWY 75.

Major employers in Nebraska City include Cargill Meats, Tyson Foods, American Meter Co., Walmart, CHI Health, Columbus Community College as well as multiple small and medium sized manufacturing and agricultural companies. With a diverse local economy consisting of manufacturing, health, and education, there is a strong demand for affordable housing in the area.