Contact Information

Mobile Home Park Details

  • Price: $460,000
  • Cap Rate: 9.9%
  • Listing ID: 6661805
  • Posted On: Jul 18, 2024
  • Updated On: Jul 25, 2024

Description

Northridge Mobile Home Park is an all-age community in Minto, North Dakota, with 68% occupancy and only one park-owned home. Electricity is direct-billed, and water, sewer, and trash are master-metered and billed back through a community fee. Many residents commute 31 miles to Grand Forks. Despite its remote location, the park has been managed entirely remotely.

Location

Value creation by infilling vacant sites
Below market rents
96% tenant-owned homes (only 1 POH)

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Financial Information (Pro Forma)

Net Operating Income: $45,586

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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