Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 15.5%
- 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 |
