Mobile Home Park
Radio City
3848 E 14th St, Des Moines, IA 50313
Listing Price: $9,460,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive offering of Radio City Mobile Home Park, a large-scale manufactured housing community located in Des Moines, Iowa. The property contains 155 developed sites (licensed for approximately 170) and is currently 79% occupied, providing a balance of stabilized income and meaningful value-add potential through lease-up. With average lot rents of $645 per month, Radio City offers attractive in-place revenue and significant upside via occupancy growth and incremental rent adjustments. The community is serviced by public water and sewer with sub-metering in place, allowing for resident utility reimbursement and reduced operating expenses.
Radio City
Investment Highlights
- 155 Sites | Licensed for ~170 – Large Community Scale Supports Operational Efficiencies and Investor Appeal.
- 79 Percent Occupancy – Solid in-Place Income with Considerable Upside Through Filling Vacant Sites.
- Strong Lot Rents – Current Average Rents of $645 Per Month Provide Stable Revenue with Potential for Further Increases.
- Public Utilities | Sub-Metered – City Water and Sewer with Resident Reimbursement Lowers Owner Expenses and Simplifies Operations.
- High-Demand Metro Location – Situated in Des Moines, IA, a Growing Getro withSstrong Employment Drivers, Diverse Economy, and Rising Housing Demand.
- Value-Add Opportunity – Lease-Up of Remaining Vacant Sites and Potential Rent Growth Create Significant Upside for New Ownership.
- Resident-Owned Homes – Primarily Resident-Owned Units Reduce Management Intensity and Ongoing Capital Obligations.
Broker of Record
Listing Price: $9,460,000
Investment Highlights
- 155 Sites | Licensed for ~170 – Large Community Scale Supports Operational Efficiencies and Investor Appeal.
- 79 Percent Occupancy – Solid in-Place Income with Considerable Upside Through Filling Vacant Sites.
- Strong Lot Rents – Current Average Rents of $645 Per Month Provide Stable Revenue with Potential for Further Increases.
- Public Utilities | Sub-Metered – City Water and Sewer with Resident Reimbursement Lowers Owner Expenses and Simplifies Operations.
- High-Demand Metro Location – Situated in Des Moines, IA, a Growing Getro withSstrong Employment Drivers, Diverse Economy, and Rising Housing Demand.
- Value-Add Opportunity – Lease-Up of Remaining Vacant Sites and Potential Rent Growth Create Significant Upside for New Ownership.
- Resident-Owned Homes – Primarily Resident-Owned Units Reduce Management Intensity and Ongoing Capital Obligations.
Investment Overview
Marcus & Millichap is pleased to present the exclusive offering of Radio City Mobile Home Park, a large-scale manufactured housing community located in Des Moines, Iowa. The property contains 155 developed sites (licensed for approximately 170) and is currently 79% occupied, providing a balance of stabilized income and meaningful value-add potential through lease-up. With average lot rents of $645 per month, Radio City offers attractive in-place revenue and significant upside via occupancy growth and incremental rent adjustments. The community is serviced by public water and sewer with sub-metering in place, allowing for resident utility reimbursement and reduced operating expenses.
Broker of Record
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.