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Brookhaven Estates - for Sale in Newaygo, Michigan
622 S. Division Street
Newaygo, MI 49337
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Mobile Home Park for Sale(Distressed)This property is in default, REO or in foreclosure. |
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| Number of MH Lots: | 178 |
| Size: | 88.1 acre(s) |
| Cap Rate: | 8.6% |
| Purchase Method: | Cash, New Loan |
| Status: | Sold |
| Property ID: | 106317 |
| Posted on: | Oct 04, 2011 |
| Updated on: | Jan 10, 2012 |
Property Description
MHRE Group is pleased to offer Brookhaven Estates, a 178 space all-age manufactured housing community, situated on 88.06 acres.
Amenities include a clubhouse, swimming pool, basketball court, 2 playgrounds and a recreational pond.
Future value includes an additional Phase IV, approved for 59 additional spaces.
Location Description
Brookhaven Estates is 36 miles Northeast of Grand Rapids, 46 miles Northest of Muskegon, and 181 miles Northwest of Chicago.
Park Information
| Number of MH Lots: | 178 |
| Total Occupancy: | 56.7% |
| Year Built: | 1996 |
| Average MH Lot Rent: | $318 |
| Size: | 88.1 acre(s) |
Financial Information (Pro Forma)
| Gross Income | $458,324 |
| Operating Expense | $300,147 |
| Net Operating Income | $103,679 |
| Expense Ratio | 65.5% |
| Debt Info |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
Amenities and Other
| Pool: | Yes |
| Club House: | Yes |
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