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Ada, MN and Minto, ND Mobile Home Parks 2 Multifamily Properties Offered at $830,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- Ada Mobile Home Park: Value create by filling vacant sites
- Ada Mobile Home Park: Water, sewer and trash direct billed to tenants
- Minto Mobile Home Park: Below market rents
- Ada Mobile Home Park: No vacant inventory and below market rents
- Minto Mobile Home Park: Value creation by infilling vacant sites
- Minto Mobile Home Park: 100% tenant owned homes
EXECUTIVE SUMMARY
Ada Mobile Home Park is an all-age community located in Ada, Minnesota. Ada is a quiet commuter community where many of the residents work in surrounding towns or drive to Fargo, ND (48mi) each day. This is the only mobile home park in town and has one seller financed home with the rest being tenant owned homes.
Northridge Mobile Home Park is an all-age community operating at 68% occupancy, with all tenant owned homes, located in Minto, North Dakota. Electricity is direct billed and water/sewer/trash are master metered and billed back via a community fee. Many residents commute 31 miles to nearby Grand Forks, ND. Despite the somewhat remote location of this park, Northridge has been entirely operated remotely.
Northridge Mobile Home Park is an all-age community operating at 68% occupancy, with all tenant owned homes, located in Minto, North Dakota. Electricity is direct billed and water/sewer/trash are master metered and billed back via a community fee. Many residents commute 31 miles to nearby Grand Forks, ND. Despite the somewhat remote location of this park, Northridge has been entirely operated remotely.
PROPERTY FACTS
| Price | $830,000 | Number of Properties | 2 |
| Price / SF | $10.64 / SF | Individually For Sale | 0 |
| Cap Rate | 9.75% | Total Building Size | 78,000 SF |
| Sale Type | Investment | Total Land Area | 6.87 AC |
| Status | Active |
| Price | $830,000 |
| Price / SF | $10.64 / SF |
| Cap Rate | 9.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 78,000 SF |
| Total Land Area | 6.87 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 100 9th St E, Ada, MN 56510 | Multifamily | 37,000 SF | 1970 | - |
| 362 Northridge Dr, Minto, ND 58261 | Multifamily | 41,000 SF | 1960 | - |
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Ada, MN and Minto, ND Mobile Home Parks
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