Contact Information

Mobile Home Park Details

  • Price: $7,500,000
  • Cap Rate: 9.4%
  • Listing ID: 4291802
  • Posted On: Jan 18, 2024
  • Updated On: Feb 6, 2024


We are pleased to present the Horizon Manufactured Housing Portfolio in Killdeer and Belfield, North Dakota. With the majority of leases held by corporate tenants, over $200k in recent CapEx upgrades, strong day-one cash flow, low maintenance costs, and a stable tenant base, this portfolio offers a compelling investment prospect. Future ownership can expect a 30% increase in rental revenue through increasing COVID-era leases to the market rates already achieved by other units. Manufactured housing has proven resilient in various economic environments, further enhancing its appeal. This opportunity is ideal for investors seeking a stable, high-yield investment in a growing market sector.

Investment Highlights:
Future Ownership Can Expect a 30% in Rental Revenue Through Correcting Loss-To-Lease
Over 50% of Units Signed with Corporate Leases
Over $200,000 in Capital Expenses Implemented in the Past 12 Months to Upgrade Unit Furniture, Appliances and Exterior Siding
High Yield & Strong Cash Flow on Day 1 of Ownership
Relatively Low Maintenance Making This a Cost-Effective Investment
Consistent and Stable Tenant Base
Shrinking Supply and Growing Demand for Affordable Manufactured Housing Options
Resilient Asset-Type That Withstands Many Economic Environments

Download Offering Materials:

Please reach out to Josh Benard for more information!
office: 800.746.3175 ext. 7056
direct: 916-216-4606


Portfolio Addresses:

200-405 Alkali Way
Killdeer, ND

314-470 Railroad St SE
Killdeer, ND

315-472 Horizon St
Killdeer, ND

213-337 2nd St SW
Belfield, ND

216-220 3rd St SW
Belfield, ND

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Park Information

Number of MH Lots: 82
Total Occupancy: 98.0 %
Year Built: 2013

Financial Information (Actual)

Gross Income: $1,097,230
Operating Expense: $395,302
Net Operating Income: $701,927
Expense Ratio: 36.0 %
Debt Info: 65% LTV; 6.75% Rate; 30 Year AM; Full Term Interest Only

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 82
Average Rent for Park-owned Homes: $1,115

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