Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.8%
- Listing ID: 1452772
- Posted On: Jun 5, 2021
- Updated On: May 8, 2023
Description
38 Total Sites - City Water & City Sewer DIRECT BILLED TO TENANTS BY PUBLIC UTILITY. 78% Occupancy. All lots can accomodate single or doublewide units. 16.70 acres. Includes very nice 3/2 home. Cash Cow. Value Add with Opportunity for New Owner to Increase Rents. Sorry, not interested in Seller Financing. For more information call 832.289.1096.
Location
L'Anse Michigan 5 minute drive to Lake Superior
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 38 |
| Total Occupancy: | 78.0 % |
| Average MH Lot Rent: | $357 |
| Size: | 17 acre(s) |
Financial Information
| Gross Income: | $127,600 |
| Operating Expense: | $33,715 |
| Net Operating Income: | $93,885 |
| Expense Ratio: | 26.4 % |
| Debt Info: | N/A |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |