Alta MHC
Alta, IA
Asking price
$625,000
Sites
—
Cap rate
11.10%
Price / site
—
About this property
Description The subject community features 14 lots, with 13 homes and one garage currently on site. There are seven park owned homes and six tenant owned homes. Lot rent is currently slightly below market at $330 per month, and park owned homes average $590 per month above lot rent. The property currently has only one vacant home, 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. Currently there are seven park owned homes, all of which are occupied. The park owned home rents average $590 above lot rent. See below for the location, year, and make of the park owned homes: Lot 1: 1999 Duchess Lot 2: 2000 Commodore Lot 5: 1995 Dutch LTD Lot 8: 2024 Adventure Lot 9: 1994 Skyline Lot 11: 1973 Mark II Lot 13: 2004 Redman *Contact Broker for Offering Memorandum* **Sale is subject to a 1031 Exchange**
All details
| Asking price | $625,000 |
|---|---|
| Cap rate | 11.10% |
| Year built | 1975 |
| Address | 117 North Main Street |
| First seen | Sep 6, 2026 |
| Last verified | Sep 7, 2026 |
