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Deal MHP - for Sale in Mattawan, Michigan
24575 Pleasant Drive
Mattawan, MI 49071
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Broker Information
Mike NissleyCB Richard Ellis
Mobile Home Park for Sale(Distressed)This property is in default, REO or in foreclosure. |
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| Number of MH Lots: | 58 |
| Size: | 5.5 acre(s) |
| Status: | Active |
| Property ID: | 105748 |
| Posted on: | Sep 19, 2011 |
| Updated on: | Nov 07, 2011 |
| Price: | Submit Offer |
Property Description
This Michigan property has several positive facets, but its real value is its location! Deal is located across the street from the award winning Mattawan School System. Deal is close to Interstate 94, which sets it apart from many older mobile home communities. The investor though will need to be a private utility company as there is a well system and aging electrical delivery system to be maintained. Meters are installed per site and must be read and invoiced by the owner on both utilities. For a purchaser, upside and cash flow will need to be created through market ready homes for sale and rent. Managing the current high density residents’ delinquencies and infrastructure wisely would improve the value of the community.
Park Information
| Number of MH Lots: | 58 |
| Total Occupancy: | 90.0% |
| Year Built: | 1958 |
| Average MH Lot Rent: | $315 |
| Size: | 5.5 acre(s) |
Financial Information
| Net Operating Income | $62,859 |
| Debt Info |
Utility Information
| Water: | Well |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
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