Contact Information

Mobile Home Park Details

  • Price: $1,400,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.8%
  • Property ID: 1383101
  • Posted On: Jan 22, 2021
  • Updated On: Mar 2, 2021

Property Description

Golden Pond Estates is a family friendly environment located 3 miles from Three Rivers, Michigan. It is located in the heart of St Joseph county with a population of 60,000+. Three Rivers is home to Wal-Mart, Home Depot, Menards, and American Axle and Manufacturing. The economy is strong and vibrant. There are 2 ponds that provide for a peaceful and serene feeling. These ponds are spring fed and are very attractive. This park consists of 42 lots, with many capital improvements. Tenants are stable, Call, Text or email me for more information.

Location

Three Rivers Michigan

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Park Information

Community Type: All Age
Number of MH Lots: 42
Total Occupancy: 98.0 %
Average MH Lot Rent: $370
Size: 17 acre(s)

Financial Information

Gross Income $200,040
Operating Expense $48,351
Net Operating Income $151,689
Expense Ratio 24.2 %
Debt Info

Lot Information

Singlewide Lots: 42

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $750

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