The NMHC Group of KW Commercial is pleased to present the Eastern Iowa Portfolio located in Maquoketa, Iowa. The portfolio consists of 139 sites across 3 communities all within 5 minutes of each other in the city of Maquoketa. Maquoketa, the county seat of Jackson County, is just 30 minutes to Dubuque, 45 minutes to Davenport, and 60 minutes to Cedar Rapids. Being so close to 3 metropolitan areas allows numerous opportunities for employment. All 3 communities are serviced municipal sewer and water of which the cost is reimbursed by the tenants. There are currently 70 community-owned homes (of which 4 are single-family homes) plus another 19 tenant-owned homes within the portfolio. The owners have rehabbed numerous homes with above average products and continue to do infill across the portfolio. This allows a future investor with a large amount of upside and ability to immediately add value. Current owners have been approached by the city manager about a grant program. The city has an interest in helping the current/future owner of the communities through funding to help improve the community’s infrastructure as well as placing new homes. This may provide an operator with the ability to have a government-backed program share the cost of placing new homes while also improving the general infrastructure of the community. This process would need to be researched by any potential buyers during due diligence. As always, this is a confidential sale. Please do not go to the community without setting up a showing appointment with the listing agents. If on site, do not under any circumstances speak with any tenants or employees. Please contact us for additional information.
