Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.6% (Pro Forma)
- Listing ID: 3184896
- Posted On: Jun 20, 2023
- Updated On: Dec 19, 2023
Description
Lake Charlevoix’s Waterfront Highest Demand Last Largest Piece Of Real Estate. 4.8 Acres Operational Mobile Home Park With Short Term Rental Income and Long Term Rentals. Maximize this Waterfront Community Taking The Business As Is Or Start From Scratch With Hotel Or Condo Development! Inspection Done, Phase 1 Environmental Report Done.
Location
Perfectly Located Half Mile From Charlevoix Downtown Shopping, Immediate Access To Biking Trails, 30 Feet Waterfront Sandy Beach Shoreline, 1 Mile To Charlevoix Municipal Airport, 2 miles to Charlevoix Marina, 20 Miles To Boyne Mountain Ski Resort, 15 Miles to Petoskey, 30 Miles to Tunnel of Trees, 8 Miles To Little Traverse Bay. From beaches to ferries, outdoor adventuring and rock hunting, mushroom houses, to downtown shopping and dining – “Charlevoix the Beautiful” is a Michigan destination you don't want to overlook. While you soar over Charlevoix, you could see Beaver Island, Mackinac Island, Mackinac Bridge, and Lake Charlevoix. Charlevoix is all about its fresh water! When you visit, we recommend you get out on the lakes with a kayak, sailboat, motorboat, or stand up paddleboard. Also, experience a paddle down the Jordan River.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 35 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $2,000 |
| Size: | 5 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $315,000 |
| Operating Expense: | $124,258 |
| Net Operating Income: | $190,741 |
| Expense Ratio: | 39.4 % |
Lot Information
| Singlewide Lots: | 35 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 35 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 35 |
| Average Rent for Park-owned Homes: | $900 |
