East entrance - mobile home park
East entrance - mobile home park
Mobile home park - south end
Mobile home park - south end
Mobile home park
Mobile home park
Mobile home park - quiet street
Mobile home park - quiet street
RV Park- winter
RV Park- winter
West entrance - RV Park
West entrance - RV Park
RV Park - summer 2017
RV Park - summer 2017
RV Park - summer 2017
RV Park - summer 2017
RV Park - summer 2017
RV Park - summer 2017
2009 16'x70' rental home
2009 16'x70' rental home
East entrance - mobile home park
Mobile home park - south end
Mobile home park
Mobile home park - quiet street
RV Park- winter
West entrance - RV Park
RV Park - summer 2017
RV Park - summer 2017
RV Park - summer 2017
2009 16'x70' rental home

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Listing ID: 784392
  • Posted On: Feb 10, 2017
  • Updated On: Mar 2, 2018

Description

GOOD CASH FLOW AND 25 YEARS OF RENTAL HISTORY!
Northview Estates RV and Mobile Home Park is a 53 lot manufactured housing community located on the north edge of Washburn, ND. 40 miles north of Bismarck and 70 miles south of Minot, ND. 27 permanent manufactured homes, including two park owned homes. 18 dedicated RV spaces and seven 'overflow' mobile home lots accommodate a significant annual influx of power plant maintenance personnel plus road construction crews, custom harvesters and other trades and crafts personnel needed to perform a variety of services in the local economy along with RV travelers exploring North Dakota's Lewis and Clark country. RV income contributes more than 50% of annual gross revenues with many guests returning annually, several living in the RV park year around. Park has paved streets, city water and sewer. RV Park hosts are on-site. Same owners for over 25 years! Co-owner Mike Nelson is a licensed ND real estate broker.

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Park Information

Community Type: All Age
Number of MH Lots: 35
Year Built: 1976
Average MH Lot Rent: $250
Size: 11 acre(s)

Financial Information (Actual)

Gross Income: $161
Operating Expense: $66
Net Operating Income: $95
Expense Ratio: 41.0 %

RV Information

Number of RV Lots: 18
Average RV Lot Rent: $600

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $737