Mobile Home Park Details
- Purchase Method: Cash
- Listing ID: 642460
- Posted On: Mar 8, 2016
- Updated On: Jun 30, 2016
Description
Rare opportunity to acquire an all-age community with public utilities, high occupancy and almost no park owned homes or loans within an MSA of nearly 300,000 people.
Stable, cash-flowing property that should qualify for very attractive fixed rate, non-recourse debt generating high cash on cash returns.
Seller' s only park in region and looking to trim outlier geographic areas within their portfolio.
Features sidewalks and brand new roads. Seller has also recently installed water meters on every home, with sections of the water lines replaced last winter as well.
Amenities include a playground and nearby trail system.
Each space contains at least one off-street parking space.
Location
At the westernmost point of the Great Lakes, Duluth is one of the busiest ports in the country, and is the second-largest MSA in the State of Minnesota.
The Duluth unemployment rate was 3.5% in December 2015 - far below the national average of 5.0% (not seasonally adjusted).
Superior, WI and Duluth, MN make up the Duluth-Superior Port, which is the largest freshwater port in the world.
In 2011 the port supported 11,510 jobs in Minnesota and Wisconsin.
Outside Magazine named Duluth as the Best Place to live in the United States in 2014.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 89 |
| Size: | 9 acre(s) |
