Listing Agency: Marcus & Millichap - Cleveland

Listed By: Jonathon McClellan · License #OH SAL.2005002219

Source: Crexi

Added: Apr 24 Changed: Aug 26 Last Checked: Aug 31 at 10:26AM

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Investment Insights

Based on property information with market context.

Sunny Terrace is a manufactured housing community located in Le Center, Minnesota. The property includes 42 sites and is currently 93% occupied, combining stabilized income with room for improvement through occupancy growth and rent adjustments. Average rents are reported at $400 per month.

The community uses public water and sewer systems, which are billed back to tenants. This structure is intended to help minimize utility expenses for the ownership.

For-sale, Sunny Terrace is presented by Marcus & Millichap as an income-producing manufactured housing asset with an operating model supported by tenant-billed utilities.

Key Highlights

• Sunny Terrace Mobile Home Park in Le Center, Minnesota
• 42 manufactured home sites with 93% occupancy
• Average rents of $400 per month

Property Analytics

Property Profile

Current Use

Sunny terrace Corporate Office

Suggested Use

Top Pick HVAC Service Plumbing Service Grocery & Convenience Store Pharmacy Garden Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

93%

Occupancy

Location Intelligence

Trade Area within ½ mile

257

Businesses Nearby

Explore this area Business Placement

Demographics for 56057, MN

3,949

Population

1,619

Households

2.4

Avg Household Size

39

Median Age

17%

College-Educated

91%

High-School Grad

85.2 sq mi

ZIP Area

46

Density / Sq Mi

$81,895

Median Household Income

$41,912

Median Earnings

$874

Median Rent

$233,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Sunny Terrace offers 42 manufactured home sites with 93% occupancy and public water and sewer billed to tenants.

Where is this mobile home & rv park located?

The property is located at 300 W Lanesburgh St Le Center, MN.

What are key features of this property?

This property features: Sunny Terrace Mobile Home Park in Le Center, Minnesota; 42 manufactured home sites with 93% occupancy; Average rents of $400 per month