Montana Mobile Home Park For Sale, Northwest Region

Property Description

Montana Mobile Home Park For Sale

Confidential and currently off-market.

31 Lot Park

100% filled, stable, well managed, investment with individual utilities, reliable infrastructure, and a solid owner occupant tenant base.

Note: This park is the desired 100% leased lots with NO park-owned mobiles. This park sits on leased land. The ground lease is a 20-year lease renegotiated in 5-year increments.

Layout: 4.407 acres of rail road owned land, on a 20-year guaranteed renewable and extendible lease.

Water and Sewer: Municipally Master Metered, each lot submetered and Billed to Tenants by Park

Electric: Individually Municipally Metered, Billed to Tenants by City

Overview of Financials

Occupied Lots 31

Lot Rent $409

Rent Roll $12,665

Actual Income $146,097

Expense Ratio 24.0%
NOI $110,385
Income, expense ratio, and NOI are based on June 2019

Effective April 1, 2021 the lot rent is raised to $445

Rent had not been raised since June 2019.

Market rents are high in Montana.

The following table shows projected Revenue and NOI after raising rent to $445:

Rent Roll $13,795
Revenue $165,540
NOI $125,810
At $1.69M this is an 7.44% cap.

Buyer primarily responsible for a 4.00% brokerage fee which will be reimbursed up to 100% for any contributions made by the seller.

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The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, 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 property to you depends on 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. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.