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Investment Overview

The subject community features 14 lots, with 13 homes and one garage currently on site. There are six park owned homes and seven tenant owned homes. Lot rent is currently slightly below market at $315 per month, and park owned homes average $605 per month above lot rent. The property is currently 100% occupied, offering new ownership an easy transition into an established community. New ownership could sell the park owned homes on contract to reduce expenses, or could continue the current park owned home rental model for increased long term income. The four stall garage on site is currently not being utilized, and could be rented by new ownership for an additional income stream. The community is served by city water and city sewer, and all utilities are billed to the tenants directly. With little common area and full occupancy, this property is perfect for either a newer investor looking to get started, or an experienced investor looking for an addition to their portfolio.

Park Owned Homes

Currently there are six park owned homes, all of which are occupied. Park owned home rents average $605 above lot rent. Lot 2: 1999 Duchess Lot 3: 2000 Commodore Lot 6: 1995 Dutch LTD Lot 9: 2024 Adventure Lot 10: 1994 Skyline Lot 13: 2004 Redman

Utilities and Infrastructure

The community is served by city water and city sewer, with all utilities billed directly to the residents. Current ownership is responsible for lawn care and snow removal for the common areas which are taken care of by local lawn and snow providers. Electrical Pedestals are a mix of 100 amp and 200 amp service. Park Roads are gravel and are bordered closely by city maintained streets.

Recent Capital Improvements

2021: Removed 30 trees at an expense of $15,000 Replaced individual trash cans with two dumpsters that are still direct billed to residents 2022: Lot 10: Replaced Water heater 2023: Lot 3: New AC unit Lot 9: New Deck built for tenant, removed tree and cleaned up old concrete 2024: Lot 6: Demoed and Replaced Home, added new gas service Lot 2: Replaced Water Heater 2025: Lot 2: Remodeled Lot 6: New Roof Lot 10: New Deck

Alta, Iowa

Alta, Iowa is a community of over 2,000 located in northwestern Iowa. It is located 6 miles west of Storm Lake, Iowa (pop. 12,000), which is home to Buena Vista University (a 4-year liberal arts university) and a Tyson meat processing plant which employs about 2,500 people.
Alta is located about 60 miles north and east of Sioux City, Iowa (pop. 87,000). Sioux City is home to the headquarters of Bomgaars Farm and Ranch Supply, Seaboard Triumph Food Processing, three secondary colleges and universities, a large public school system, and multiple hospitals.