Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.0%
- Listing ID: 1584677
- Posted On: Jan 12, 2022
- Updated On: Apr 28, 2022
Description
45 Licensed Lots
22 Acres
8 Owner Occupied @ $325
7 Mobile Home rentals @ $650 AVG
40+ Vacant Lots
(30+ additional RV Spaces)
Small Cabin (not rented)
City Water/City Sewer
(Park Pays $2,000)
Have A Park to Sell?
Contact Frank: 727-592-2418
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Location
Hibbing is a city in Saint Louis County, Minnesota, United States. The County has a population of 199,070 and it is the only Mobile Home Park for sale currently in Minnesota.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 45 |
| Total Occupancy: | 35.0 % |
| Year Built: | 1959 |
| Size: | 22 acre(s) |
Financial Information (Actual)
| Gross Income: | $62,100 |
| Operating Expense: | $22,500 |
| Net Operating Income: | $39,550 |
| Expense Ratio: | 36.2 % |
RV Information
| Number of RV Lots: | 30 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $325 |