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23924 Minnesota Highway 22 12 Unit Mobile Home Park $970,164 CAD ($80,847 CAD/Unit) 11.33% Cap Rate Litchfield, MN 55355
INVESTMENT HIGHLIGHTS
- 6 Park Owned Mobile Homes for Additional Rental Revenue.
- Low Expenses
- Expansion possible!
- 6 Privately Owned Units paying lot rent
- Large Piece of Land with Great Space for all tenants
EXECUTIVE SUMMARY
Located just south of Litchfield near the airport, this well maintained mobile home park offers great
space. Sitting on 5 acres, it has 12 designated lots. The park owns 6 of the mobile units on site for
additional rental income while the other 6 lots are leased to other mobile owners. The park owned units
include three 2-bed 1-bath units, one 3-bed 1-bath unit, and one 4-bed 2-bath unit. Monthly gross
cashflow potential without changing existing rental terms is over $7,500/month. Property also includes a
large 3 car garage for onsite storage or convert to additional rental income. This is a great
opportunity for a nicely upkept rural residential setting. Two separate septic systems serving the north and south side of the development. Each septic is designed to support 8 homes meaning there is room to add an additional 4 home units to the south septic system.
space. Sitting on 5 acres, it has 12 designated lots. The park owns 6 of the mobile units on site for
additional rental income while the other 6 lots are leased to other mobile owners. The park owned units
include three 2-bed 1-bath units, one 3-bed 1-bath unit, and one 4-bed 2-bath unit. Monthly gross
cashflow potential without changing existing rental terms is over $7,500/month. Property also includes a
large 3 car garage for onsite storage or convert to additional rental income. This is a great
opportunity for a nicely upkept rural residential setting. Two separate septic systems serving the north and south side of the development. Each septic is designed to support 8 homes meaning there is room to add an additional 4 home units to the south septic system.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$103,350
|
$5.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,350
|
$5.98
|
| Taxes |
$3,585
|
$0.21
|
| Operating Expenses |
$14,875
|
$0.86
|
| Total Expenses |
$18,460
|
$1.07
|
| Net Operating Income |
$84,890
|
$4.91
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $103,350 |
| Annual Per SF | $5.98 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $103,350 |
| Annual Per SF | $5.98 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,585 |
| Annual Per SF | $0.21 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $14,875 |
| Annual Per SF | $0.86 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $18,460 |
| Annual Per SF | $1.07 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $84,890 |
| Annual Per SF | $4.91 |
PROPERTY FACTS
| Price | $970,164 CAD | Apartment Style | Single-Family Home |
| Price Per Unit | $80,847 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 5.00 AC |
| Cap Rate | 11.33% | Building Size | 17,280 SF |
| Gross Rent Multiplier | 8.42 | No. Stories | 1 |
| No. Units | 12 | Year Built | 2004 |
| Property Type | Multifamily | Parking Ratio | 8.33/1,000 SF |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | Residential - Owner Occ - Residential zoning but can be used as industrial or commercial/investment | ||
| Price | $970,164 CAD |
| Price Per Unit | $80,847 CAD |
| Sale Type | Investment |
| Cap Rate | 11.33% |
| Gross Rent Multiplier | 8.42 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 5.00 AC |
| Building Size | 17,280 SF |
| No. Stories | 1 |
| Year Built | 2004 |
| Parking Ratio | 8.33/1,000 SF |
| Zoning | Residential - Owner Occ - Residential zoning but can be used as industrial or commercial/investment |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Workshop
PROPERTY TAXES
| Parcel Number | 14-0308000 | Total Assessment | $355,222 CAD (2025) |
| Land Assessment | $211,595 CAD (2025) | Annual Taxes | $3,585 CAD ($0.21 CAD/SF) |
| Improvements Assessment | $143,627 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
14-0308000
Land Assessment
$211,595 CAD (2025)
Improvements Assessment
$143,627 CAD (2025)
Total Assessment
$355,222 CAD (2025)
Annual Taxes
$3,585 CAD ($0.21 CAD/SF)
Tax Year
2024
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23924 Minnesota Highway 22
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