Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 101646
- Posted On: Jul 17, 2011
- Updated On: Dec 11, 2023
Description
Swan Lake is a beautiful property that has 2000 feet of frontage and is a spring fed all sports lake. The community rest on 40 +/- acres and has room for expansion of additional home sites or a campground which are in high demand as evidenced by an existing campground on Swan Lake and thier exceptionally high occupancy. This is a well maintained community with many amenities to include shuffle board,pickle ball, basketball,pool etc. and usually has a waiting list to get in. The current owner recently spent 100k to upgraded to a state of the art septic system. This is a must see community with lots of snowbirds, do not miss this opprotunity!
Want to know what your mobile home community is worth, click on this link and give us some general information about your Community and we will give you our proffesional opinion of what your community is worth on today's market.
Location
Swan Lake Drive, Allegan MI
Amenities
- Storage
- Pool
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 47 |
| Total Occupancy: | 99.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $415 |
| Size: | 40 acre(s) |
Financial Information (Actual)
| Gross Income: | $212,000 |
| Operating Expense: | $45,000 |
| Net Operating Income: | $166,000 |
| Expense Ratio: | 21.2 % |
Lot Information
| Singlewide Lots: | 47 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $0 |
