Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.5%
  • Listing ID: 1446386
  • Posted On: May 27, 2021
  • Updated On: Sep 24, 2021

Description

For more information please go to www.wiselycr.com or click on the following links.

Offering Memorandum Link: https://www.crexi.com/properties/611179/michigan-golden-pond-estates-mhc?offeringMemorandum=download

Due Diligence Vault Link: https://www.crexi.com/properties/611179/michigan-golden-pond-estates-mhc?openDueDiligence=open

Video Link: https://youtu.be/HFhZeMzlyYU

PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Golden Pond Estates located in Three Rivers, Michigan. Golden Pond MHC consists of 42 approved home spaces. The property is serviced by well water and septic for sewer. The community has 41 of the 42 sites occupied with only 6 sites that have park owned homes. The community is 98% occupancy and offers a new owner great stability. The community includes six park owned homes (5 that are 2017 or newer) in the sale that are being rented out.

INVESTMENT HIGHLIGHTS
• Stable Community with 98% occupancy
• Lots of Capital Improvements Completed in Recent Years
• Mainly Resident Owned Homes (85%)
• Major Employers nearby the Community

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

Park Information

Number of MH Lots: 42
Total Occupancy: 98.0 %
Average MH Lot Rent: $370

Financial Information (Actual)

Gross Income: $201,240
Operating Expense: $48,888
Net Operating Income: $152,352
Expense Ratio: 24.3 %

Lot Information

Singlewide Lots: 42

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Video

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