Minot 3 Park Portfolio

Minot 3 Park Portfolio

Minot, ND
Under Contract
  • Property Type: Manufactured Housing
  • Property Size: / 103± Acres / 500 Sites

Overview

Capstone Manufactured Housing is pleased to present the Minot 3 Park Portfolio. This portfolio features 500 sites across three communities: Wheatland Village, East Ridge Acres, and Magic City MHC. The communities are located within three miles of each other. The proximity of these communities allows for reduced management oversight while, in turn, gaining immediate scaled entry into the expanding city of Minot. This portfolio showcases value-add opportunities with below-market rents and occupancy upside. Since East Ridge and Magic City are stabilized, a new owner can focus on an aggressive lease-up strategy at Wheatland Village, which is currently operating at 43%. For example, by filling 49 vacant sites and bringing occupancy to 57%, the ERI would increase by over $230,000 at the current lot rents. This offering presents the opportunity to acquire three well-maintained communities with scaled entry into North Dakota.

Investment Highlights

  • Scaled Entry into North Dakota
  • Well-Maintained with Excellent Curb Appeal
  • Shared Staffing Between the Communities
  • Lot Rent Growth Potential
  • Tremendous Upside in Filling Vacant Sites at Wheatland Village

Contact Information

Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 7004
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 7008
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 7011
hummell@capstone-companies.com
Hunter LaRocca Senior Advisor P: 407.227.9643
O: 800.261.9464 ext. 7012
hunter@capstone-companies.com