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Mobile Home Park

Claim Jumpers Mobile Home Court and Storage

200 Charles St, Deadwood, SD 57732

Listing Price: $3,195,000

Cap Rate
4.16%
Number of Spaces
35
Lot Size
16.30 acres
Occupancy
100.0%
Price/Space
$91,286
Spaces/Acre
2.15
Year Built
1985

Investment Overview

Claim Jumpers Mobile Home Court and Storage lies in the historic town of Deadwood, South Dakota. Deadwood is known for its prominence during the Gold Rush era. Due to the unique characteristics of being located in a gulch and having numerous Historic Landmark designations, it is clear that precious metal is not the only gold to be found here in the Black Hills. Claim Jumpers Mobile Home Court is the only affordable housing in the city of Deadwood with ample storage to be rented out. This stabilized community has 34 Mobile home lot sites. 33 are occupied tenant owned homes (TOH) with 1 park owned home used by management (POH), 1 long term RV lot and 1 commercial office. Current lot rents are $280 and $290. There are 94 self-storage units of various dimensions with many long term tenants. The self-storage has a waiting list and remains fully occupied. Claim Jumpers uses master-metered public water and sewer and the park pays for trash. The new owner can sub-meter for water & sewer and experience immediate upside or increase rent to cover average water consumption. Tenants currently pay gas and electric. The community is priced at $3,195,000 which includes a POH valued at $100,000. The pricing represents a cap rate of 4.16% using current lot income combined with self storage income. The current NOI does not reflect what the market offers as this is an under-performing, stabilized, cash-flowing asset. Both lot and self-storage rents can be increased and presents potential value-add for the new owner with modest rent increases (5%) as noted in Year 1. Year 2 demonstrates an increased NOI over Year 1’s if sub-metering water and sewer. In Year 3 trash could be pushed back to tenants offering more upside

Investment Highlights

  • This stabilized community has 34 Mobile home lot sites. 33 are occupied tenant owned homes (TOH) with 1 park owned home (POH), 1 long term RV lot and1 commercial office. 94 Self Storage units.
  • Opportunity to see revenue upside when increasing lot rent and storage which will increase CAP rate and ROI.
  • ~Resident can afford your affordable housing and storage~ *Median Income of approx. $36,250 *Median Home price of $248,000 *3% unemployment rate *Population increase of 46% over 2020

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Mobile Home Park

Claim Jumpers Mobile Home Court and Storage

Listing Price: $3,195,000

Cap Rate
4.16%
Number of Spaces
35
Lot Size
16.30 acres
Occupancy
100.0%
Price/Space
$91,286
Spaces/Acre
2.15
Year Built
1985

Investment Highlights

  • This stabilized community has 34 Mobile home lot sites. 33 are occupied tenant owned homes (TOH) with 1 park owned home (POH), 1 long term RV lot and1 commercial office. 94 Self Storage units.
  • Opportunity to see revenue upside when increasing lot rent and storage which will increase CAP rate and ROI.
  • ~Resident can afford your affordable housing and storage~ *Median Income of approx. $36,250 *Median Home price of $248,000 *3% unemployment rate *Population increase of 46% over 2020

Investment Overview

Claim Jumpers Mobile Home Court and Storage lies in the historic town of Deadwood, South Dakota. Deadwood is known for its prominence during the Gold Rush era. Due to the unique characteristics of being located in a gulch and having numerous Historic Landmark designations, it is clear that precious metal is not the only gold to be found here in the Black Hills. Claim Jumpers Mobile Home Court is the only affordable housing in the city of Deadwood with ample storage to be rented out. This stabilized community has 34 Mobile home lot sites. 33 are occupied tenant owned homes (TOH) with 1 park owned home used by management (POH), 1 long term RV lot and 1 commercial office. Current lot rents are $280 and $290. There are 94 self-storage units of various dimensions with many long term tenants. The self-storage has a waiting list and remains fully occupied. Claim Jumpers uses master-metered public water and sewer and the park pays for trash. The new owner can sub-meter for water & sewer and experience immediate upside or increase rent to cover average water consumption. Tenants currently pay gas and electric. The community is priced at $3,195,000 which includes a POH valued at $100,000. The pricing represents a cap rate of 4.16% using current lot income combined with self storage income. The current NOI does not reflect what the market offers as this is an under-performing, stabilized, cash-flowing asset. Both lot and self-storage rents can be increased and presents potential value-add for the new owner with modest rent increases (5%) as noted in Year 1. Year 2 demonstrates an increased NOI over Year 1’s if sub-metering water and sewer. In Year 3 trash could be pushed back to tenants offering more upside

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

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