Mobile Home Park
Radio City MHP
3848 E 14th St, Des Moines, IA 50313
Listing Price: $9,190,000
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 142 developed sites (licensed for approximately 170) and is currently 87 percent occupied, providing a balance of stabilized income and meaningful value-add potential through lease-up. With in-place lot rents of $645, increasing to $685 effective June 1, 2026, 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 MHP
Investment Highlights
- 142 Sites | Licensed for 170 Large Community Scale Supports Operational Efficiencies and Investor Appeal
- 87 Percent Occupancy | Solid in-Place Income with Considerable Upside through Filling Vacant Sites
- Strong Lot Rents | Current in-Place Average Rent is $645 Per Month, Increasing to $685 Effective June 1, 2026, Providing in-Place Cash Flow with Clear Mark-to-Market Upside
- 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, Iowa, a Growing Metro with Strong 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
Financing By
Listing Price: $9,190,000
Investment Highlights
- 142 Sites | Licensed for 170 Large Community Scale Supports Operational Efficiencies and Investor Appeal
- 87 Percent Occupancy | Solid in-Place Income with Considerable Upside through Filling Vacant Sites
- Strong Lot Rents | Current in-Place Average Rent is $645 Per Month, Increasing to $685 Effective June 1, 2026, Providing in-Place Cash Flow with Clear Mark-to-Market Upside
- 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, Iowa, a Growing Metro with Strong 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 142 developed sites (licensed for approximately 170) and is currently 87 percent occupied, providing a balance of stabilized income and meaningful value-add potential through lease-up. With in-place lot rents of $645, increasing to $685 effective June 1, 2026, 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
Financing By
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