Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Listing ID: 422817
  • Posted On: Jan 28, 2014
  • Updated On: May 28, 2014

Description

Property offering is Boulder Ridge, a 96 space mobile home park of which 20 sites have been sold to residents who pay an HOa fee, leaving a total of 76 sites to be operated as a MHC community. Boulder Ridge currently operates lot rents at $378 per month and includes trash. Park residents are responsible for water, sewer, gas and electricity.

The community is serviced by municipal water and sewer, which is sub-metered and billed back to the resident. The streets are constructed of asphalt with concrete driveways; the roads are in “good” overall condition. Sites in the community average approximately 100x80 which can accommodate both single wides and multi-sectional homes, with a residential set appearance, underground utilities, and dedicated parking for 2 vehicles. The community amenities include Clubhouse, Indoor Swimming Pool and Playground.

The community is 100% double wides (with the exception of one single wide home) and are residential setting. Taking all factors into consideration, Boulder ridge is rated as a 4 star or Class a mobile home community. with the implementation of a homes leasing program, the Investor has the opportunity to achieve a 26.79% cash on cash return in year 3 by filling 5 spaces per year.

Location

BOULDER RIDGE is conveniently located in Allendale, Michigan in close proximity to Highway 45 (Lake Michigan Dr.) which leads to Grand Rapids 13 miles to the east. The park is just minutes from beautiful Lake Michigan, which lies 17 miles to the west, and provides residents with easy access to beaches, fishing, camping and hiking.

Amenities

  • Pool
  • Club House
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 96
Total Occupancy: 51.0 %
Year Built: 2000
Average MH Lot Rent: $378
Size: 51 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City