Contact Information
Jason Bergan
License: S65228000
Mobile Home Park Details
- Price: $175,000
- Purchase Method: Cash, New Loan
- Cap Rate: 2.0%
- Listing ID: 2976379
- Posted On: May 22, 2023
- Updated On: May 22, 2023
Description
This 15 lot mobile home park has two tenants and 5 vacant mobile
homes. The homes are included in the sale and need minor repairs
prior to being move-in ready. The other 9 lots have utilities hook-ups
ran to them, so new or used homes could be moved in right away.
Location
Lake Lillian is located in Western Minnesota right off of Highway 7.
The median income is about $55,000 for each household and
roughly $30,000 per individual. The town has a population 244
people, but it is located within 25 miles of both Willmar and
Hutchinson, MN. Many people that live in Lake Lillian commute to
either Willmar or Hutchinson for work.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 15 |
| Total Occupancy: | 13.0 % |
| Year Built: | 1973 |
| Average MH Lot Rent: | $250 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income | $6,000 |
| Operating Expense | $2,707 |
| Net Operating Income | $3,293 |
| Expense Ratio | 45.1 % |
| Debt Info |
Lot Information
| Singlewide Lots: | 15 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
Download Documents
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