Contact Information

Mobile Home Park Details

  • Price: $1,600,000
  • Purchase Method: New Loan
  • Property ID: 1015703
  • Posted on Dec 13, 2018

Property Description

Marcus & Millichap is pleased to present the opportunity to acquire a 53
site manufactured housing community located in Whitehall, Michigan.
Edgewood MHC is an all-age community situated on 9.39 acres. The community has well water and a septic field.

Current occupancy is 59%, however, Seller has ordered 10 new Legacy
Homes to be set in the community to boost occupancy to 77%. If the Legacy
Homes are not sold or rented by closing seller will guarantee lot rent
for up to 12 months or until occupied. Seller expects Buyer to reimburse
Seller at closing for cost of homes if not occupied. With a proforma occupancy
at 77%, a new investor can implement an aggressive sales program
to substantially increase occupancy. The community historically has very
low deliquency and virtually no turn over.

Edgewood MHC has multiple entrances, three on Benston Road and one
on Whitehall Road providing convenient access to the Walmart Supercenter
located 2 miles away. The town of Whitehall overlooks Lake Michigan and is
a few miles from Michigan Adventure.

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

Park Information

Community Type: All Age
Number of MH Lots: 53
Total Occupancy: 77.0 %
Year Built: 1955
Average MH Lot Rent: $350
Size: 9.4 acre(s)

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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