Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 2228394
  • Posted On: Mar 24, 2023
  • Updated On: Jun 26, 2023

Description

Please contact Kyle Haynie with Russel Country Realty at 406 799 3264 or rcr.kyle@gmail.com .Red Sky and Sunset Mobile Home Communities are been offered as a portfolio. Two mobile home parks within 300 yards of each other, including 40 mobile home lots and 10 RV lots. There is sufficient space to add 10 - 15 additional single wide mobile home lots. On city water and sewer.
Most tenants at Sunset and 20% at Red Sky were evicted after pandemic eviction moratorium. Owing to massive demand for long term RV space we rented the vacant units to RV, while seeking suitable mobile home replacements. We have identified a mobile home park nearby that is closing down that is interested in moving their homes to our parks. We hope to have 100% occupancy by mid summer 2023. Once stabilized we will raise the sale price, this is a great opportunity to improve the occupancy and grow NOI.
New portable office building located at Red Sky Community included in sale

Location

Vaughn is a small countryside community located within 12 miles of Great Falls, MT

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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 70.0 %
Year Built: 1985
Average MH Lot Rent: $440
Size: 10 acre(s)

Financial Information (Pro Forma)

Gross Income: $265,620
Operating Expense: $173,027
Net Operating Income: $92,592
Expense Ratio: 65.1 %

RV Information

Number of RV Lots: 10
Average RV Lot Rent: $565

Utility Information

Water: City
Water Paid By: Park
Sewer: City