Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.4%
  • Listing ID: 925819
  • Posted On: May 7, 2018
  • Updated On: Aug 14, 2023

Description

Woodbury Estates is an established mobile home park with 72 developed lots; 48 single wides which are occupied plus 4 RV's. The park is on city services and sits on 12 acres surrounded by residential neighborhoods and farmland. This property has tremendous value-add opportunity with the purchase and resale of new mobile homes sold to new tenants on contract. There is also space on the property which can be expanded for RVs.

Madison is home to two mobile home manufacturers, one specializing in affordable units and the other in high end homes. Either would be an excellent resource for an owner who intended to make a bulk purchase of new home inventory for Woodbury Estates.
Madison has a small town feel with approximately 7,000 people and is located 45 miles north of Sioux Falls. Woodbury Estates is one of two mobile home parks in Madison, and is located next to Madison Elementary school. Woodbury Estates is also located less than a mile to Dakota State University.

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

Park Information

Community Type: All Age
Number of MH Lots: 72
Total Occupancy: 69.0 %
Year Built: 1970
Average MH Lot Rent: $255
Size: 12 acre(s)

Financial Information (Pro Forma)

Gross Income: $263,818
Operating Expense: $142,234
Net Operating Income: $121,627
Expense Ratio: 53.9 %

Lot Information

Singlewide Lots: 73

RV Information

Number of RV Lots: 3
Average RV Lot Rent: $255

Utility Information

Water: City
Water Paid By: Tenant - Submetered

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $255