Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Listing ID: 1429532
  • Posted On: Apr 27, 2021
  • Updated On: Jan 24, 2022

Description

Hiland Mobile Home Park, located at 1600 3rd Street West in the city of Roundup. Hiland Mobile Home Park is a 26 space all-age community with a 25 space mobile Park and one mobile mobile on its own lot along with a 2 car garage – workshop. Built in the 1970’s the property sits on one full city block of land.
The community is well located in the city of Roundup, and has very high occupancy rates. The Park is on city streets that are paved on 3 sides and is on city water and sewer. The property sits on a hill a few blocks above the hospital on the North end of town. It is close to dining, shopping, and entertainment amenities for the resident’s convenience.
Hiland Mobile Home Park offers a great cash flowing opportunity with some value add upside. A new investor would be able to increase rents, and implement water metering and billing.

Current owner has painted, repaired and improved the park and park owned homes over the last several years so they can offer an excellent investment in a great mobile home community. Review attached rent roll and PL to see 2020 numbers and figures projecting into 2022

Location

Roundup is nestled in the valley near the Musselshell River near the Bull Mountains and is the county seat and largest town in Musselshell County. Roundup is less than one hour from Billings, the state’s largest city, and location of Billings Logan International Airport.

Our visitors includes a variety of people that enjoy our special slice of Montana - Big Sky Country. Musselshell County is a unique part of central eastern Montana with industries that include farming, ranching, big game outfitting, coal, small business, dryland and irrigated crops, some oil rigs and a splendid small country town atmosphere.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 26
Total Occupancy: 96.0 %
Year Built: 1970
Average MH Lot Rent: $258
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income: $158,619
Operating Expense: $71,996
Net Operating Income: $86,623
Expense Ratio: 45.4 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 20
Average Rent for Park-owned Homes: $673