Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.0% (Actual)
- 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.
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 % |
Lot Information
| Singlewide Lots: | 31 |
| Doublewide Lots: | 4 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 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 |