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

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.5%
  • Listing ID: 1019437
  • Posted On: Jan 2, 2019
  • Updated On: Dec 5, 2023

Description

Three stabilized and long-time family owned mobile home communities, totaling 165 sites. Seller will offer them as a package or individually, except that a purchaser will need to buy Phelps to get Dogwood. These well-managed properties are at 89.7% overall occupancy. The park owned inventory features nice homes with mostly seasoned balances, resulting in favorable pricing for that component of the deal. Offered at an 9.5% cap rate on the real estate NOI. Tenured resident managers at each location. Michigan broker of record: Kurt Kuntz, NAI Wisinski of West Michigan.

Location

Located in the prosperous West Michigan area, locations are near Grand Rapids and Kalamazoo, MI.

Amenities

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

Park Information

Community Type: All Age
Number of MH Lots: 165
Total Occupancy: 89.7 %
Average MH Lot Rent: $360
Size: 68 acre(s)

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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