Contact Information

Mobile Home Park Details

  • Price: $1,750,000
  • Purchase Method: Cash
  • Cap Rate: 8.0%
  • Property ID: 1186946
  • Posted On: Feb 3, 2020
  • Updated On: Feb 3, 2020

Property Description

Capstone Manufactured Housing is pleased to present Rumbaugh Estates. Located in Midland, Michigan, this manufactured housing community features 57 sites across 38+ acres. This investment presents the opportunity to dramatically increase effective gross income due to a newly established utility recapture program. Rumbaugh Estates is also advantageously priced below much of the surrounding market, creating the ability to dramatically increase occupancy with an effective marketing campaign. This manufactured housing community offers buyers the unique opportunity to acquire a strategically positioned property with substantial value-add. This is a unique opportunity to acquire a strategically positioned property with substantial value-add.
***Click link to download offering materials: http://capstoneapts.listinglab.com/RumbaughEstates/index.cfm?doLDPage=1***

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Park Information

Community Type: All Age
Number of MH Lots: 57
Year Built: 1976
Average MH Lot Rent: $325
Size: 38 acre(s)

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