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Elm Street Homes

Mobile Home Park for Sale in Redwood Falls, Minnesota

Redwood Falls, MN 56283
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Sale Price: $155,000

Contact Information

Rob Chamberlain

Mobile Home Park for Sale

Number of MH Lots: 29
Size: 4 acre(s)
Purchase Method: Cash
Status: Active
Property ID: 892381
Posted on: Jan 12, 2018
Updated on: Aug 19, 2018
Price: $155,000

Property Description

The community is licensed for 29 lots. There are currently 16 homes on the property, which include the following: 12 occupied homes, and 4 homes that are unoccupied, 1 that is owed by the caretaker who is fixing it to sell/rent and 3 that are possibly abandoned. There are no park-owned homes. In 2017 the income was higher than expected for 2018 due to 2 additional vacancies and 2017 had some additional payments of back rent.

The park has done well for us but is still in transition so we considered that in our pricing. Work to be done likely includes significant fixing up or removing of the unoccupied homes and bringing in new homes to fill vacant lots.

Emergency shelter on site. City utilities - water and sewer paid by the park.

I am looking to 1031 this property so I am not offering seller financing.

Originally listed in January 2018. We quickly went under contract, but the buyer fell through so we have relisted.

Please respectfully refrain from visiting the park and inquiries without permission from owners.

Location Description

Mobile Home Park for sale in Redwood Falls, Minnesota. Nice town with high demand for affordable housing. Mobile home community is 5 minutes from Walmart and other local businesses. 3 minutes from a Schult Homes Factory.

Park Information

Number of MH Lots:29
Total Occupancy:41.0%
Average MH Lot Rent: $300
Size:4.0 acre(s)

Utility Information

Water Paid By: Park

Zip codes in Redwood Falls, MN

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