
Mobile Home Park in
Southeast, IA
In December 2018, the Keel Team and investment partners purchased a 115 lot mobile home park in southeast Iowa for $677,000.00. Through improvement initiatives such as: filling vacant pads, removing run down homes, filling potholes and repairing off-street parking pads, modest lot rent increases, and others, we were able to improve the park operations, increase NOI, and achieve a significant value increase. The financial results of these efforts are summarized below:
Original acquisition price: $660,000 (December 12, 2018)
Equity: $595,000 initial cash investment from partners
Debt: Recourse
Monthly Distributions Paid, Starting in Month 13:
-
January 2020 - June 2022: $89,233.41
-
(5 monthly payments of $3,566.67)
-
(18 monthly payments of $3,966.67)
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SOLD June 2022 - $1,616,456.63
Total Distributions Paid to Investors: $1,705,690.04
Sale Closing Date:
Jun 23, 2022
Sale Price: $2,100,000.00
Investors received $1,616,456.63 at closing.
Summary:
$89,233.41 Investor Distributions
$1,616,456.63 Sale Closing Distribution
$1,705,690.04 Total Distributions
($595,000.00) Initial Equity Investment
= $1,110,690.04 Total Return on Capital
Timeframe:
42 months = 3.5 years
ROI:
53.33% annualized cash on cash ROI
Legal Disclosure: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.