Contact Information

M Micheal John

Confidential Properties R Us

Mobile Home Park Details

  • Price: $2,275,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.6%
  • Property ID: 1244378
  • Posted On: Apr 20, 2020
  • Updated On: Aug 19, 2020

Property Description

Park is Zoned "Mobile Home Park" with public water and sewer utilities. - plus 16 additional lots - Long Term residents, solid income, desirable area, huge lots, well established cash flow and solid rent history. No Pro-Forma "Bologna"! This is the Real Deal w Real Numbers! Are you tired of hearing real estate brokers "Value Add" ? which means you "Add" your money to increase their "Value". What kind of "Sucker" do they think you are? "Cash Cow" opportunity! If you are looking for 8.5% to 11.5% return on investment you are at the right place. If you insist on buying a park that returns less than 8.5% interest you have come to the wrong place. All Underground utilities, paved roads, "Garden of Eden"; your going to want to move out of your home !! Just be sure to bring a big safe for all the CASH !! Confidentiality Agreement Respectfully Requested

Location

Ten Minutes to Lake Michigan! Awesome property with additional expansion available for added RV and Boat Storage revenue.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 50
Total Occupancy: 80.0 %
Year Built: 1970
Average MH Lot Rent: $525
Size: 24 acre(s)

Financial Information (Actual)

Gross Income $295,000
Operating Expense $98,750
Net Operating Income $196,250
Expense Ratio 33.5 %
Debt Info N/A

Lot Information

Doublewide Lots: 50

Utility Information

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

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