Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 11.0%
- Listing ID: 1944343
- Posted On: Nov 29, 2022
- Updated On: Feb 6, 2023
Description
14 PADS WITH 11 UNITS
5 UNITS OWNED BY THE PARK 4 NEWER MOVE INS 1 OLDER
6 UNITS PAY SPACE RENT OF $250.00 +WATER & SEWER (Space rent is low - easy to increase)
4 STORAGE SHED ,METERED AND SUBMETERED
DIESEL TORO GROUNDS MASTER (2 - ONE FOR SNOW / ONE FOR GRASS)
UPGRADES:
2 TORNADO STORM SHELTERS (15k)
WATER METERED AND SUBMETERED
ELECTRIC PEDESTALS AND PADS
GRAVEL PARKING PADS ON ALL LOTS
GRAVEL BASES FOR VACANT LOTS
SEWER BROUGHT TO CITY/COUNTY CODES
SKIRTING APPLIED TO ALL OWNED UNITS
OWNED UNITS RENTS ARE BETWEEN 850-1000 PER MONTH
Location
BELGRADE MINESOTA 56312
Amenities
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 14 |
| Total Occupancy: | 78.0 % |
| Year Built: | 1974 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $5,965 |
| Operating Expense: | $2,087 |
| Net Operating Income: | $3,877 |
| Expense Ratio: | 35.0 % |
| Debt Info: | F/C |
Lot Information
| Singlewide Lots: | 14 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $893 |