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Browse More Listings in Multifamily For Sale, Pipestone, MN or Minnesota

Multifamily Property For Sale

Tiana Park

502 8th Ave NE, Pipestone, MN 56164

Price:
$42,000
No. Spaces:
7
Price/Space:
$6,000
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Cap Rate:
13%
Occupancy:
100%
Lot Size:
3.12 AC
Find Out More...

Last Verified 10/11/2009 Listing ID 16210254

Description

7 occupied pads
4 RV sites
3 additional RV sites could be approved by city government

*No park owned homes

Makes roughly $5000 a year but would make more if the 3 RV sites are approved.

This property is on a flood plane and new construction cannot be added.

Water is sub metered and billed back to tenants.

Electric is in Mobile home owners names.

Manager in place works for free storage in office trailer

Rent 2008:
RV 4000
Mobile homes 8400

Expenses:
Garbage 1800
Electric 900
Snow removal 360
Water is sub metered but travel trailers use a small amount 300
Licensing 75
Maintenance 900

Pipestone is a growing growing community located in southwest Minnesota. The city has recently added many jobs with Suzlan wind tower manufacturing.

Financial Summary

Actual
Net Operating Income
$5,460

Map of 502 8th Ave NE, Pipestone, MN 56164 (Pipestone County)

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Created 4/27/2009

Additional Information for 502 8th Avenue Ne, Pipestone, MN 56164

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Tiana Park

502 8th Ave NE, Pipestone, MN, 56164