Albia MHC | CREOP

This property features 19 TOHs at $375 per month and one garage rented at $200 per month. Lot rents were last raised in April of 2026 and are near market value. There are three park owned homes that are potential tear downs, with two other homes currently under renovation. Ownership has titles in hand for all homes, making it simple for new ownership to remodel, remove, or sell the vacant homes as handyman specials to increase returns. There are 8 lots that current ownership believes would be best used as RV lots. These lots have recently had new water risers installed but will need gravel, electric, and sewer drops. The city is accommodating to RV rentals, offering further upside for new ownership. Contact Broker for Additional Details

The property is served by 100% public utilities with current ownership paying and billing back water and sewer costs. Garbage is also paid by the park. All other utilities are billed directly to the tenants. Current ownership recently replaced the water lines to the community, which has lowered the water to costs to less than $20 per pad.

- Ownership has recently replaced all the water lines in the property, dramatically decreasing the water costs for the property. - Water risers were recently placed on 8 lots which could be used for RV lots. They will need electric, gravel, and sewer drops. - Recently renovated Storm Shelter - All sewer lines scoped by Roto Rooter in the Spring of 2025 - 2 Relatively new homes were placed and sold for cash showing strong demand for affordable housing in the area (Lots 3 and 35)

The financial analysis is based on the seller's 2025 actuals, with year two projections based on current occupancy. Future income assumptions for year three onward assume a 3% lot rent increase per year, RV lots at an annual occupancy of 50%, and the minor infill of two homes per year.

This property can be purchased individually, or with another 17 pad MHC located in Mount Pleasant, IA which is about an hour east of the subject property. The advertised cost for the Mount Pleasant property is $350,000 for a total amount of $1,125,000 for the entire 52 pad portfolio. Contact Broker for Additional Details

Albia, IA is the county seat of Monroe County and has a resident population of 3,700 residents. The town is a bedroom community to Ottumwa, IA which has a population of 25,000.

Major employers in Albia include Monroe County Hospital, as well as small and large scale industrial manufacturing. Local employment is anchored in Ottumwa, IA and employers include John Deere, JBS Foods, Indian Hills Community College, and Walmart.