Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 13.0%
- Listing ID: 554275
- Posted On: Aug 20, 2015
- Updated On: Jan 4, 2016
Description
Pequot Terrace is a 38 site mobile home park located in Pequot Lakes, MN. This is a newer, award winning community and one of the nicest in the Midwest.
Highlights include:
38 sites
23 occupied sites
15 vacant sites
10 park owned homes included in the sale
Over $100,000 of capital improvements made to the park since 2006
Storm shelter and garage
Strong collections
Current lot rent $260, most recent increase May 2015
Onsite manager
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 38 |
| Total Occupancy: | 60.0 % |
| Year Built: | 2005 |
| Average MH Lot Rent: | $260 |
| Size: | 11 acre(s) |
Financial Information
| Gross Income: | $122,748 |
| Operating Expense: | $62,683 |
| Net Operating Income: | $60,065 |
| Expense Ratio: | 51.1 % |