Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1254411
  • Posted On: May 11, 2020
  • Updated On: May 11, 2020

Property Description

**Properties may be purchased together or individually**

SHADYLANE:

• Shadylane Estates MHC is a 3-star all-age community positioned on approximately 14 acres of land and serviced by public utilities. The community is conveniently located minutes away from I-75 and I-696, providing easy access to other larger markets such as Detroit (10-miles) and Novi (22-miles).
• Tremendous value-add potential to raise the lot rents to market and fill vacant park owned homes. The average adjusted monthly lot rent is $476 according to the JLT report, while Shadylane’s adjusted monthly lot rent is $353. Increasing rents to the market level would add over $256,000 in additional annual revenue
for a new owner.
• The offering includes 168 park-owned homes, of which 112 are currently occupied mostly as pure rentals with a few lease-to-own averaging $243 for the home payment.
• The population within a 10-mile radius of the community is 1,400,000 with a strong average household income of $67,700. Macomb County is Michigan’s third most populated county, home to three of the top ten most populated
communities in the state (Warren, Sterling Heights, and Clinton Township).
• Macomb County is home to a robust transportation and warehousing sector that support the County’s bedrock industry of manufacturing. With a large network of manufacturers producing more than $34 billion of goods each year, the county’s economy depends on industries providing cargo transportation,
warehousing/storage of goods, and support activities related to modes of transportation. In fact, the transportation and logistics warehousing industry include more than 500 businesses with total employment of 8,500 workers.
• Amazon recently opened a distribution center in Shelby Township and are currently employing 200 people in the area. The company anticipates reaching 1,000 employees at this location within the next couple of years.
• Macomb County had the largest manufacturing job increase in the nation from 2016 to 2018. According the US Bureau of Labor Statistics, Macomb County added approximately 9,118 manufacturing jobs from the fourth quarter of 2016, to the second quarter of 2018. The report indicates total employment went
from 65,137 to 74,255 within that time frame.

SYLVAN LAKE:

• Sylvan Lake Estates MHC is a 2.5-star all-age community, but in a 5-star location, positioned on over 7 acres of land serviced by public utilities. The community sits right next to State Highway 24 on Sylvan Lake, providing easy access to downtown Pontiac and other large retail stores including Walmart, TJ Maxx, Marshalls, HomeGoods, and more.
• Tremendous value-add potential to raise the lot rents to market and fill vacant park owned homes. The average adjusted monthly lot rent is $469 according to the JLT report, while Sylvan Lake’s adjusted monthly lot rent is $353. Increasing rents to the market level would add over $48,000 in additional annual revenue for a new owner.
• The offering includes 47 park-owned homes, of which 42 are occupied mostly as lease options and a couple of pure rentals with an average home payment of $236.
• Within a 10-mile radius of the community, the 2019 total population was just under 600,000 with an average household income of approximately $120,964.
Average home values were $338,825 and expected to rise to $363,408 by 2024.
• The City of Pontiac sits just 30 miles from Detroit and 40 miles from University of Michigan in Ann Arbor and is next to Sylvan Lake, which is six miles long and covers 532 acres. The lake is the keystone year-round recreational pleasure of choice and sits right next to Pontiac’s Downtown retail district which includes a variety of restaurants, shops, and local businesses.
• The Oakland County unemployment rate is at 3.3% as of 2018 compared to the US rate of 3.7%. Local researchers project the unemployment rate to be at 2.6% by 2020/2021.
• Oakland County has now completed nine consecutive years of job growth since the recession’s low point in 2009.
• During 2018, more than 728,000 people were employed in Oakland County, a sum larger than 13 states. Exports for Oakland County in 2017 exceeded $14.4 billion, surpassing the export totals of 25 states. In fact, a quarter of all exports from Michigan come from Oakland County.
• Among a select few counties nationally to have a AAA bond rating, saving taxpayers millions of dollars.

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Park Information

Community Type: All Age
Number of MH Lots: 324
Size: 21 acre(s)

Utility Information

Water: City
Sewer: City

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