Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 13.0%
  • Listing ID: 554275
  • Posted On: Aug 20, 2015
  • Updated On: Jan 4, 2016

Description

Pequot Terrace is a 38 site mobile home park located in Pequot Lakes, MN. This is a newer, award winning community and one of the nicest in the Midwest.

Highlights include:

38 sites
23 occupied sites
15 vacant sites
10 park owned homes included in the sale
Over $100,000 of capital improvements made to the park since 2006
Storm shelter and garage
Strong collections
Current lot rent $260, most recent increase May 2015
Onsite manager

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 38
Total Occupancy: 60.0 %
Year Built: 2005
Average MH Lot Rent: $260
Size: 11 acre(s)

Financial Information

Gross Income: $122,748
Operating Expense: $62,683
Net Operating Income: $60,065
Expense Ratio: 51.1 %