Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.0%
  • Listing ID: 1584677
  • Posted On: Jan 12, 2022
  • Updated On: Apr 28, 2022

Description

45 Licensed Lots
22 Acres

8 Owner Occupied @ $325
7 Mobile Home rentals @ $650 AVG

40+ Vacant Lots
(30+ additional RV Spaces)

Small Cabin (not rented)

City Water/City Sewer
(Park Pays $2,000)

Have A Park to Sell?
Contact Frank: 727-592-2418
Ask about our Pocket Listings:
Info@BirchRealty.com

Location

Hibbing is a city in Saint Louis County, Minnesota, United States. The County has a population of 199,070 and it is the only Mobile Home Park for sale currently in Minnesota.

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Park Information

Community Type: All Age
Number of MH Lots: 45
Total Occupancy: 35.0 %
Year Built: 1959
Size: 22 acre(s)

Financial Information (Actual)

Gross Income: $62,100
Operating Expense: $22,500
Net Operating Income: $39,550
Expense Ratio: 36.2 %

RV Information

Number of RV Lots: 30

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $325

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