The mobile home park asset class continues to attract attention as communities across the United States show strong performance and long-term potential. Recently, two mobile home parks located in the Nashville, TN MSA and Bismarck, ND MSA reached a major milestone with a combined refinance totaling approximately $14 million. This mobile home park refinance marks a significant step forward in the strategy to create stable, long-term investments while improving the quality of affordable housing communities.

Nashville, TN MSA Mobile Home Park

The first community, a 138-lot mobile home park in the Nashville, TN MSA, was originally purchased for $4,000,000. At acquisition, the property included 2 vacant lots and 1 vacant home, offering room for operational improvements and value creation.

A capital raise of $1,920,000 supported several initiatives designed to improve infrastructure, aesthetics, and overall livability. These improvements included:

• Upgraded signage throughout the community
• Road surface paving and repairs
• Addition of curbs to roads
• Freshly painted speed bumps
• Landscaping enhancements with new trees and improved grounds
• Installation of new fencing and security lighting
• Water utility submetering for more efficient usage
• General appearance upgrades
• Purchases of new homes and used homes to increase occupancy
• Exterior renovations for park-owned homes
• Electrical infrastructure upgrades
• Plumbing infrastructure improvements
• Home remodels and repairs
• Hitch removal to modernize the community look

These strategic improvements positioned the mobile home park for long-term stability while enhancing the experience for residents.

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Bismarck, ND MSA Mobile Home Park

The second property, a 90-lot mobile home park in the Bismarck, ND MSA, was purchased for $4,250,000. At acquisition, the property had 86 occupied units, making it another strong candidate for value-add investment.

The project raised $1,185,500 in capital to fund targeted improvements that focused on infrastructure, resident experience, and operational efficiency. Key improvements included:

• Covering closing and due diligence expenses
• Paying the acquisition fee
• Removing hitches from all homes in the mobile home park
• Installing new street signs and entry signage, along with landscaping upgrades
• Adding new skirting to several homes
• Painting several park-owned homes
• Installing new lot number signs for every home
• Road maintenance across the community
• Converting the office into a rental apartment
• Submetering the community with Metron Farnier systems, allowing water and sewer to be billed back to residents based on usage

These targeted upgrades improved the overall appearance and efficiency of the mobile home park, while also adding income potential through the converted rental unit and utility billing system.

The $14M Mobile Home Park Refinance Achievement

After completing these improvements, the two mobile home parks were refinanced for a combined value of $14 million. This refinance represents a major step in the investment strategy, as it allowed for the return of initial capital while continuing to hold the assets long-term.

For investors, this milestone often represents what many call the “infinite returns” stage—remaining in the deal with no capital left invested. While no future outcomes can ever be guaranteed, this type of result illustrates how operational improvements and strong management can create significant value in the mobile home park sector.

Why Mobile Home Park Investing Shows Potential

Mobile home park investing has become increasingly attractive in recent years due to the ongoing demand for affordable housing and the limited supply of new communities being developed. By targeting underperforming properties and strategically investing in upgrades, operators can potentially increase occupancy, stabilize income, and improve resident satisfaction.

Both the Nashville, TN and Bismarck, ND communities highlight how value-add strategies—such as infrastructure upgrades, curb appeal improvements, and utility submetering—may contribute to higher valuations and refinancing opportunities.

Looking Ahead

With this $14M refinance complete, the focus shifts toward long-term ownership and management. The improvements made not only position the mobile home parks for continued financial performance, but they also enhance the quality of life for the residents who call these communities home.

Mobile home park investing, when approached with a focus on value creation and resident experience, may continue to provide unique opportunities in today’s real estate landscape. While outcomes will always vary depending on the deal and market conditions, these refinances demonstrate how disciplined execution and a long-term mindset can unlock significant potential.

Are you looking for MORE information? Book a 1-on-1 consultation with Andrew Keel to discuss:

• A mobile home park deal review
• Due diligence questions
• How to raise capital from investors
• Mistakes to avoid, and more!

Disclaimer:

The information provided is for informational purposes only and is not investment advice or a guarantee of any kind. We do not guarantee profitability. Make investment decisions based on your research and consult registered financial and legal professionals. We are not registered financial or legal professionals and do not provide personalized investment recommendations.