Desirable 55+ Mobile Home Park in Duluth, MN

Listing Details:

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  Business Category:               Real Property Rltd

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  Price:                                       $1,200,000

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  Gross Revenue:                     $105,085

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  SDE:                                        $79,529

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  Seller Financing:                    50%

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  FF&E:                                      $30,000

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  Employees:                            1 

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  Location:                                Duluth, MN

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  Reason For Sale:                   Retirement

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  Years Owned:                         19
  
  

Description

This 55+ mobile home park spans 7.5 acres and has 20 lots, with some currently being used as double lots.​ The property features a common area with parking, the current owner’s home (being leased out as of Oct 2024) and garage/shop with an apartment above, as well as a lot used as a garden.​

Most residents at this park own their mobile home and lease a lot from the owner, although a few lots and the mobile homes on them are owned by the park owner.​ Since most residents own their own mobile homes and are responsible for the upkeep of their individual lots, this park is relatively easy to maintain!

Included in the Sale

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  7.5 acres of land

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  Current owner’s home (2 BD/1 BA)

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  On-site garage/shop that includes an apartment above

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  Three additional park-owned mobile homes

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  Kubota tractor for snow removal

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  Lawnmower for park-owned lots and common areas

Business History

This park was originally opened in 2005.​

Competitive Analysis

Situated on a quiet street, this mobile home park offers city utilities and is located on the edge of Duluth, MN.​ Duluth is a popular tourist attraction, celebrated for its stunning natural beauty along the shores of Lake Superior.​ The city offers a wealth of outdoor activities like hiking, biking, and kayaking, alongside vibrant attractions such as Canal Park, the scenic Lakewalk, and the historic Aerial Lift Bridge.​

This park stands out with its on-site management and maintenance, ensuring a seamless living experience for residents.​ Its strategic location provides a competitive advantage, consistently attracting individuals who want to be close to Duluth’s many attractions.​ The park’s appeal is evident in its long-term residents, who value the perfect blend of convenience, amenities, and vibrant surroundings.​

Number of Employees

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  0 Managers

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  0 Full Time

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  1 Part Time

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  1 Total

Owner Roles & Hours

The current owner works minimal hours, allowing her the flexibility to be out of town frequently if she wishes.​ Her responsibilities include communicating with residents, overseeing upkeep needs, and collecting rent.​