Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 9.0%
  • Listing ID: 13008
  • Posted On: Jun 2, 2010
  • Updated On: Nov 18, 2011

Description

In the heart of the Bakken Oil formation, Dickinson is a thriving community struggling to accommodate the influx of new families moving in. This park has 159 -55�x110’ lots, paved streets, street lighting, city water and sewer, mature trees and is very conveniently located.

Seller will NNN leaseback (No expenses with NNN leaseback) from buyer at 10% return or sell outright providing we can continue to rent our park owned home lots. All lots are individually deeded for home/lot packages should buyer desire. Seller would turn over park to buyer or continue managing it for a fee.

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Park Information

Community Type: All Age
Number of MH Lots: 159
Total Occupancy: 100.0 %
Year Built: 1980
Average MH Lot Rent: $425

Financial Information (Actual)

Gross Income: $612,000
Net Operating Income: $612,000
Debt Info: 2300000

Utility Information

Water: City
Sewer: City

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