Mobile Home Park
Bismarck, ND
In October 2021, the Keel Team and investment partners purchased a 90 lot mobile home park in Bismarck, ND for $4,250,000.
Original Acquisition Price
October 1, 2021
Equity
Initial Cash Investment
Improvement
Summary
Through improvement initiatives such as infilling on vacant homes, road maintenance, modest lot rent increases, and others – we were able to improve the portfolio’s operations, increase NOI, and achieve a modest value increase. The financial results of these efforts are summarized below:
Debt
Recourse
Recourse debt for both general partners only (No limited partner investors signed on the recourse debt).
Payout
Cash flow distribution
On March 2022, the first cash flow distribution was $75,887.30.
Capital
Refinance closing date
On Aug 13, 2025 the first refinancing event occurred.
Total
Distributions
Distributions Paid to Investors
The partnership received $479,071.08 in distributions.
Investors Received
Investors received $104,221.86 at the refinance closing.
10% Monthly Distributions Paid Starting in Month 6
- March 2022: $75,887.30
- June 2022: $32,137.47
- September 2022: $32,137.49
- December 2022: $32,137.46
- March 2023: $32,137.48
- June 2023: $32,137.49
- September 2023: $30,221.01
- December 2023: $28,387.46
- March 2024: $28,387.45
- June 2024: $28,387.52
- September 2024: $28,387.48
- December 2024: $28,387.52
- March 2025: $28,387.51
- June 2025: $28,387.51
- August 2025: $13,562.93
- Total Preferred Distributions Paid to Investors: $479,071.08
Capital
Summary
- $479,071.08 - Preferred Distributions
- $1,689,721.86 - Cash Out Refinancing Distribution
- $2,168,792.94 - Total Distributions
- $1,585,500.00 - Initial Equity Investment
- $583,292.94 - Total Return on Capital
Timeframe
- 47 Months = Approximately 3.9 Years
ROI
- 9.39% - Annualized cash on cash ROI for the partnership
*And the LP investors stay in the deal after the refinance for infinite returns.
Future Potential ROI Opportunities
Infinite Returns
Infinite returns since all of the original equity investment has been returned, yet we still own the mobile home park property.
Refinance
Additional earn out loan available 12 months after refi (possible additional future return per refi loan).
Appreciation
Additional potential equity appreciation as the mobile home park continues to increase in value.
Interested in learning more?
Get in touch with us today to learn more about mobile home park investing!
LEGAL DISCLOSURE: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.
