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MHP 360 CONFIDENTIAL SALE #17320739 Somewhere in Michigan

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 15.5% (Actual)
  • Listing ID: 105179
  • Posted On: Sep 6, 2011
  • Updated On: Apr 9, 2013

Description

130 SITE MOBILE HOME PARK FOR SALE! City Water & Sewer! Motivated Seller! Bring ALL Offers! . 15.5% Cap Rate, 39.2% Cash on Cash Return, 21% Mortgage Cap Rate, 41% Profit after Expenses and Debt Service! Experienced On-Site Management & Maintenance makes this park turn key! The community has a waiting list for residents to move in because seller cannot bring the homes in fast enough. Recent Capital Improvements: Re-surfaced Streets in 2007 and Upgraded Water LInes in 2010. Contact Andria Strittmatter at 317-800-1840 for more information regarding this property.

Location

SOUTH CENTRAL MICHIGAN

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Park Information

Community Type: All Age
Number of MH Lots: 130
Total Occupancy: 73.0 %
Year Built: 1977
Average MH Lot Rent: $265
Size: 20 acre(s)

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $0

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