Off Market MN MHP - 22 pads + 2 SFRs - $600,000

mobile home university
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Great little off market MHP in Princeton, MN

21 TOH

1 vacant pad

2 SFRs - Seller said this parcel could be sold for 200-250K. That was their evaluation

24 total renters potentially when the vacant pad is filled. Rents are $100-150 below market rents.

City utilities. One master water meter. Sub metering will force the NOI up by 50K yearly. Currently Netting 28K.

After sub metering, the yearly net would increase to $78,000.

Asking $600,000, no seller financing is offered.

Please leave an email and I will send you financials. Thanks

Dominic
330.789.2556

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Hello, please send me more info on the park in Princeton MN. Thank you Tom Schmeichel 651-895-3044, tommyschmeichel@gmail.com

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I would like financial info on this park please. My email is brian@cypresspropertygroup.com

Thanks

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Just make sure to really do good DD on submetering water and sewer in Minnesota. Because of a law there for mobile home park residents/leases that does not allow for changes that incur significant costs on tenants that they did not have before. This makes it very difficult to charge back water and sewer if the lease they signed when they first moved in included it.

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Send me information Dom

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