418 11Th St Wahpeton, ND 58075

Property Details for 418 11Th St

Year built

1900

Lot size

2.41 lot acres

Property size

1 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a well-maintained mobile home park situated on a spacious 2.41-acre lot at 418 11th Street S, Wahpeton, North Dakota. The property currently boasts 1 house and 22 occupied mobile home lots, with a license permitting a total of 28 lots, offering significant expansion potential. Twelve manufactured homes serve as rental units, generating a substantial current annual rental income of $94,000. Two additional manufactured homes are tenant-owned. The park's operational efficiency is enhanced by tenants covering their own electricity and heating costs, while the landlord provides water, sewer, and garbage services. Annual expenses are currently $28,000, resulting in a strong net operating income. The property's significant upside is highlighted by a gross rent potential of $155,000, achievable through full occupancy and potential rent increases. The current owner has consistently reinvested profits into ongoing renovations and improvements, ensuring the park's continued high performance and attractive condition. This turnkey operation presents a rare chance to acquire a profitable mobile home park with immediate cash flow and substantial growth prospects in a stable market. The property is priced at $549,000 and offers a compelling return on investment for discerning buyers. The 1-square-foot building is included in the sale.

Location Insight

City

Wahpeton

County

Richland

State

North Dakota

Longitude

-96.6153

Latitude

46.2606