Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $400,000
  • Property ID: 1178361
  • Posted On: Jan 10, 2020
  • Updated On: Jan 10, 2020

Property Description

• Opportunity to acquire a 98-site all age community just south of Saginaw, MI at an extremely attractive basis well below replacement cost.
• Motivated Seller so bring all offers.
• Municipality would like property to connect to city water system now that the city added a line that runs in front of the property. Owner in discussions with municipality over costs (owners latest counter to municipality is available in the online Document Library).
• Tremendous value-add potential to continue filling sites as the property is only 25.5% occupied with eight park-owned homes (five home loans, one rental, and two vacant).
• Within a five-mile radius of the community the median household income is greater than $55,000 and projected to rise to over $63,000 by 2024. Median home values are currently at $131,481 and projected to rise to $171,643 by 2024.
• Healthcare jobs continue to rise in the region and the area is home to nearly 600 health care providers including major hospitals such as Covenant HealthCare, St. Mary’s of Michigan, and Aleda E. Lutz VA Hospital.

Location

• Parkwood Village MHC, located in Michigan’s Saginaw County, is conveniently positioned next to Highway 13 and twenty miles from I-75. The location provides easy access to major employers in the Flint and Saginaw Michigan areas, as well as Detroit, Chicago, and
Canada.
• Saginaw County, with a population of nearly 200,000 residents, is a hub of research, product development, and manufacturing for the auto, chemical, silicon, advanced materials, and technology industries. The region is home to chemical and innovation giants such as The Dow Chemical Company, Dow Corning, and Hemlock Semiconductor.
• The healthcare industry is extremely strong in the region and continues to drive job growth year after year.
• Saginaw County has six recreational parks with over 550 acres of land and features hiking trails, boat launches, fishing sites, swimming beaches, picnic shelters, and countless diverse recreation programs.
• Universities within close proximity to the property include: Saginaw Valley State University (9,766 students enrolled) and University of Michigan-Flint (8,044 students enrolled).

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Park Information

Community Type: All Age
Number of MH Lots: 98
Total Occupancy: 27.6 %
Average MH Lot Rent: $287
Size: 42.5 acre(s)

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