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Address is 2198 E. Mount Morris Rd. Mount Morris, MI 48458

Amos Allinger

Focus Management Services LLC

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300%+ ROI in 3-4 Years with this 391 Lot MHP!

Multi Family Housing for Sale in Mount Morris, Michigan

2198 E. Mount Morris Rd.
Mount Morris, MI 48458

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This Mobile Home Park is Off Market

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Mobile Home Park for Sale

Number of MH Lots: 391
Size: 15 acre(s)
Cap Rate: 12.0%
Purchase Method: Cash, New Loan
Status: Off Market
Property ID: 804973
Posted on: Apr 21, 2017
Updated on: Apr 25, 2017

Property Description

Grow your investment 300% in 3-4 years using this 391 Usable Lots with affordable home Connection holding nearly $2M annual income potential!

250 Current Homes with $40k+/month semi-immediate upside with rehab investment.

150 Current Residents with $60k/monthly income.

Consultancy Available.

SERIOUS INQUIRES ONLY PLEASE

Park Information

Number of MH Lots:391
Total Occupancy:60.0%
Year Built:1965
Average MH Lot Rent: $305
Size:15.0 acre(s)

Financial Information (Actual)

Gross Income$600,000
Operating Expense$180,000
Net Operating Income$420,000
Expense Ratio 30.0%
Debt Info

Lot Information

Singlewide Lots:300
Doublewide Lots:91

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes:100
Average Rent for Park-owned Homes: $160

Amenities and Other

Club House: Yes
Handicap Accessible: Yes