Sunny Terrace — Sale in Le Center, MN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Le Center, MN 56057
  • Year built: 1980

Investment Figures

Cap rate
5.70%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the exclusive listing of Sunny Terrace Mobile Home Park, a well-positioned manufactured housing community located in Le Center, Minnesota. The property contains 42 sites and is currently 95 percent occupied, offering both stabilized income and upside potential through occupancy growth and rent adjustments. With average rents of $440 per month, Sunny Terrace provides affordable housing in a market with limited supply, while utilizing public water and sewer systems billed back to tenants, minimizing utility expenses for ownership. Investment Highlights: • 42 Sites | 95 Percent Occupied – Strong In-Place Cash Flow with Room to Grow Occupancy. • Affordable Lot Rents – Current Average Rent of $440 Per Month is Well Below Market, Providing Future Upside through Rent Increases. • Public Utilities – Community is Serviced by City Water and Sewer, with Costs Billed Back to Residents, Reducing Owner Expenses. • Desirable Community Size – Efficient Scale with 42 Sites, Making it an Attractive Acquisition for Both New and Seasoned Investors. • Stable Tenant Demand – Serves as an Affordable Housing Alternative in Le Center, a Growing Southern Minnesota Market. • Operational Simplicity – Primarily Resident-Owned Homes Limit Maintenance Responsibilities and Reduce Management Intensity.

Market Context

This multifamily in Le Center, MN is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Le Center, MN — view the full market.

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