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Address is 400 Hill Ave Wanamingo, MN 55983

Joe Sveen

Realty Growth, Inc.

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Hillcrest Manor / Chosen Valley MHP

Manufactured Home Community for Sale in Wanamingo, Minnesota

400 Hill Ave
Wanamingo, MN 55983

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Sale Price: $2,200,000

Contact Information

Joe Sveen
Realty Growth, Inc.

Mobile Home Park for Sale

Number of MH Lots: 65
Size: 15.3 acre(s)
Cap Rate: 7.6%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 960388
Posted on: Jun 20, 2018
Updated on: Jul 08, 2018
Price: $2,200,000

Property Description

Two property portfolio - one park is in Wanamingo, MN and the other is in Chatfield, MN. Wanamingo is 39 pads, city water and sewer, and $270 / month lot rent - there is room to add more pads. Chatfield is 26 pads, well and septic, $340 / month lot rent.

Gross Income is $223,080. Expenses are $56,488.04. Net Income is $166,591.96. Cap Rate 7.57%

Chatfield Address: 13700 Hwy 52 SE Chatfield, MN 55923 Wanamingo Address: 400 Hill Ave Wanamingo, MN 55983

Zero POHs.

Park Information

Number of MH Lots:65
Total Occupancy:96.0%
Average MH Lot Rent: $286
Size:15.3 acre(s)

Financial Information (Actual)

Gross Income$223,080
Operating Expense$56,488
Net Operating Income$166,591
Expense Ratio 25.3%
Debt Info

Lot Information

Doublewide Lots:65

Utility Information

Water Paid By: Tenant - Submetered

Park-Owned Homes

Number of Park-owned Homes:0
Average Rent for Park-owned Homes: $0

Zip codes in Wanamingo, MN

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