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Mobile Home Park

Rock Island MHP

604 White St SW, Watertown, MN 55388

Listing Price: $2,830,000

Cap Rate
5.50%
Number of Spaces
38
Lot Size
4.40 acres
Occupancy
97.0%
Price/Space
$74,474
Spaces/Acre
8.64
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Rock Island MHP, a 38-site manufactured housing community located in Watertown, Minnesota, within the rapidly growing western Twin Cities corridor. The community benefits from strong in-place occupancy, stable recurring cash flow, and an attractive affordability advantage relative to surrounding suburban housing markets. Positioned approximately 45 minutes west of Downtown Minneapolis, Rock Island MHP provides residents convenient access to major employment centers throughout Waconia, Chaska, Minnetonka, and the broader Minneapolis–St. Paul metropolitan area. The offering presents investors with a combination of durable in-place income and identifiable revenue growth opportunities through continued rent increases, utility reimbursements, and the potential development of six additional sites.

Investment Highlights

  • 36 MH Sites Plus Two Apartments
  • 97 Percent Occupancy at Close
  • $342 Per Month below Comparable Rents
  • Public Water and Sewer (Billed Back)
  • Located Approximately 30 Minutes West of Minneapolis' Affluent Western Suburbs

Exclusively Listed By

  • Jon McClellan

    Executive Managing Director Investments

    (216) 264-2023

    Email Jon

    License(s): OH: SAL.2005002219

    Cleveland

  • Connor Outcalt

    Senior Managing Director Investments

    (216) 264-2029

    Email Connor

    License(s): OH: SAL.2015000531

    Cleveland

  • Mike DiCillo Jr.

    Senior Managing Director Investments

    (216) 264-2034

    Email Mike

    License(s): OH: SAL.2016003091, NV: S.0195467

    Cleveland

Broker of Record

  • Jon Ruzicka

    Senior Managing Director Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Financing By

Mobile Home Park

Rock Island MHP

Listing Price: $2,830,000

Cap Rate
5.50%
Number of Spaces
38
Lot Size
4.40 acres
Occupancy
97.0%
Price/Space
$74,474
Spaces/Acre
8.64
Year Built
1980

Investment Highlights

  • 36 MH Sites Plus Two Apartments
  • 97 Percent Occupancy at Close
  • $342 Per Month below Comparable Rents
  • Public Water and Sewer (Billed Back)
  • Located Approximately 30 Minutes West of Minneapolis' Affluent Western Suburbs

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Rock Island MHP, a 38-site manufactured housing community located in Watertown, Minnesota, within the rapidly growing western Twin Cities corridor. The community benefits from strong in-place occupancy, stable recurring cash flow, and an attractive affordability advantage relative to surrounding suburban housing markets. Positioned approximately 45 minutes west of Downtown Minneapolis, Rock Island MHP provides residents convenient access to major employment centers throughout Waconia, Chaska, Minnetonka, and the broader Minneapolis–St. Paul metropolitan area. The offering presents investors with a combination of durable in-place income and identifiable revenue growth opportunities through continued rent increases, utility reimbursements, and the potential development of six additional sites.

Exclusively Listed By

  • Jon McClellan

    Executive Managing Director Investments

    (216) 264-2023

    Email Jon

    License(s): OH: SAL.2005002219

    Cleveland

  • Connor Outcalt

    Senior Managing Director Investments

    (216) 264-2029

    Email Connor

    License(s): OH: SAL.2015000531

    Cleveland

  • Mike DiCillo Jr.

    Senior Managing Director Investments

    (216) 264-2034

    Email Mike

    License(s): OH: SAL.2016003091, NV: S.0195467

    Cleveland

Broker of Record

  • Jon Ruzicka

    Senior Managing Director Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

Financing By

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