404 1st Avenue Nw
Hillsboro, ND 58045

$1,550,000

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Listing Details

$1,550,000
MLS# 26-579
Type Commercial - Investment
Status

6.610 acres
Lot Size
1968
Year Built

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Listed By

Agency Name: Prime Realty

Shown By

Agent Name: Randy Schwartz
Agent Phone: (701) 238-2200
Agency Title: Town & Country Realty

Home Value Estimate

Description

Turnkey manufactured housing investment with immediate cash flow and significant upside. Midway Mobile Home Park, located at 404 1st Ave NW in Hillsboro, ND, offers 38 total sites, with 26 currently income-producing and 12 vacant sites providing a clear path for future revenue growth.The current income-producing mix consists of 17 standard tenant-owned homes, 3 contract-for-deed homes, and 6 park-owned rental homes. New lot leases are at $450/month, while the park-owned homes provide additional rental income. Based on the current rent structure, scheduled annual rental income is approximately $195,600, producing a seller-adjusted park-only...read more

Features

Year Built: 1968

Gallery

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404 1st Avenue NwHillsboro, ND 58045