Hawkeye Portfolio

Hawkeye Portfolio

Cedar falls, IA
Under Contract
  • Property Type: Manufactured Housing
  • Property Size: / 24.14 Acres / 134 Sites


Capstone Manufactured Housing is pleased to present the Hawkeye Portfolio. This offering features 134 sites across three communities, Waverly MHP, North St MHP, and Parkview MHP. Strategically located in the Waterloo–Cedar Falls MSA, Waverly MHP and North St MHP are each less than 45 minutes away from each other. Both communities benefit from public utilities that are direct billed to the residents, eliminating any costly utility expenses associated with the parks. Parkview MHP also benefits from public utilities, but the community pays for usage. New ownership can pass these expenses back to the residents, which would increase the cash flow. Furthermore, the portfolio operates at 78% occupancy with lot rents over $100 below the market average. By focusing on raising rents or filling the vacant sites, an investor can increase the income significantly. Additionally, there are 6.36 undeveloped acres at Waverly MHP, where 42 expansion sites have been approved. At the current lot rents, this could increase the GPR by over $170,000.This offering presents an opportunity to acquire three communities, with rental upside and value-add opportunities.

Contact Information

Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
Hunter LaRocca Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712