Contact Information

Mobile Home Park Details

  • Price: $1,100,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1180841
  • Posted On: Jan 18, 2020
  • Updated On: Jan 18, 2020

Property Description

Shady Oaks contains 24 mobile home sites, 18 apartments, a storage garage and laundry. The park was originally built in 1940, expanded in 1989 and consists of 3.6+ acres. The community is serviced by municipal water and sewer, which is not sub-metered. The streets are constructed of asphalt and gravel and are in “average” overall condition. Sites in the community can accommodate only single wide homes, with overhead utilities, and off-street parking for 1-2 cars. The region is nestled in west central Michigan along the Lake Michigan shoreline. Muskegon County population recently estimated at 172,188.

PROPERTY HIGHLIGHTS

• Municipal Water and Sewer
• Onsite manager (receives free apartment as compensation)
• 5 Vacant Lots
• Site Rent of $335
• 8 POH (5 of which are 2017 models)
• 2019 POH Income = $30,204
• 2019 Lot Rental = $65,504
• 2019 Apartment Rental = $113,036
• 2019 NOI = $94,186

Location

Located within the Laketon Township (North Muskegon). Only property zoned for mobile homes in Township

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Park Information

Community Type: All Age
Average MH Lot Rent: $335

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