Contact Information

Mobile Home Park Details

  • Price: $1,230,000
  • Property ID: 1144417
  • Posted On: Oct 11, 2019
  • Updated On: Oct 11, 2019

Property Description

Sunstone is pleased to present for sale Northdale, a 86 site, all-age community located in Montevideo, Minnesota. The community is operating at 41% occupancy and current site rent is $386. City water and sewer and billed back to the tenants. There are 22 community owned homes with an average age of 2012 that must be purchased in conjunction with the real estate. The property is one mile south of Montevideo-Chippewa County Airport and 130 miles outside Minneapolis.

Park Sale Price: $1,230,000
Homes Sale Price: $550,000
Total Sale Price:$1,780,000

86 sites - 41% occupancy - city water & sewer
Water, sewer, and trash billed back to residents
Price per total site below replacement cost
Upside through increasing occupancy
2012 average age of home portfolio
Near schools, banks and Wal-Mart Supercenter
$100K+ average home value in area

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Park Information

Number of MH Lots: 86
Total Occupancy: 41.0 %
Average MH Lot Rent: $386

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