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Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1037716
  • Posted on Feb 27, 2019

Property Description

• Guernsey Lake MHC is an all age, 2 star community located on a picturesque, spring fed, all sports lake with no public access. The community is located within an hour of 4 large cities (Grand Rapids, Kalamazoo, Lansing, and Battle Creek) providing residents a tranquil, lakeside location with easy access to several large cities and all the amenities they have to offer.
• Attractive upside in filling the remaining vacant sites – with an economic occupancy of only 52.5% and no park owned homes, a new owner should be able to fill the park by bringing in homes and implementing a home sale, LTO, LPO, or rental program.
• There are 3 abandoned homes located on the property that a new owner should be able to acquire title to. These homes should be salvageable with some capital investment and will allow a new owner the opportunity to quickly begin increasing occupancy.
• Room for a new owner to implement a rent increase as the last rent increase was
$25 in January 2017.
• While the parcel connected to public sewer with homes on it is not located directly on the lake, the offering includes a 1.74 acre waterfront parcel which allows residents direct access to the lake. A new owner may be able to develop sites on this parcel that command a premium lot rent.
• The offering also includes a vacant 3.24 acre parcel of potential expansion land
that was previously where the septic tank and leach field were located. The sewer
authority closed and filled the tank in 2016 when the property connected to the
public sewer system.
• The community pays a special assessment in their property taxes to cover the cost of connecting to the public sewer system. The first payment was included in the 2015 winter tax bill and is payable over 20 years but can be paid off early. See the online Document Library for more details.

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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 52.5 %
Average MH Lot Rent: $375
Size: 9.0 acre(s)

Park-Owned Homes

Number of Park-owned Homes: 0

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