Listing Details:

• Business Category:               Real Property Rltd
• Price:                                       $1,200,000
• Employees:                            1 
• Location:                                Duluth, MN
• Reason For Sale:                   Retirement
• Years Owned:                         19
  
  
  

Business Description

This 55+ mobile home park spanned 7.5 acres and had 20 lots, with some currently being used as double lots. The property featured 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 owned their mobile home and leased 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 were responsible for the upkeep of their individual lots, this park was relatively easy to maintain!

Included in the Sale

• 7.5 acres of land
• Current owner’s home (2 BD/1 BA)
• On-site garage/shop that includes an apartment above
• Three additional park-owned mobile homes
• Kubota tractor for snow removal
• 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 offered 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 stood out with its on-site management and maintenance, ensuring a seamless living experience for residents. Its strategic location provided a competitive advantage, consistently attracting individuals who want to be close to Duluth’s many attractions. The park’s appeal was evident in its long-term residents, who valued the perfect blend of convenience, amenities, and vibrant surroundings.

Number of Employees

• 0 Managers
• 0 Full Time
• 1 Part Time
• 1 Total

Owner Roles & Hours

The owner worked minimal hours, allowing her the flexibility to be out of town frequently if she wished. Her responsibilities included communicating with residents, overseeing upkeep needs, and collecting rent.