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37-Space Mobile Home Park Upper Peninsula, MI

Off Market  

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
  • Cap Rate: 13.5% (Actual)
  • Listing ID: 513685
  • Posted On: Mar 18, 2015
  • Updated On: Dec 1, 2016

Description

Motivated Sellers. Strong cap rate. Assumable land contract, city water/sewer and is metered. For more information visit our website at www.birchrealty.com, this will be listing #116 on our site. Feel free to contact us at stan1@birchrealty.com or 248-740-9490

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 37
Total Occupancy: 75.0 %
Year Built: 1975
Average MH Lot Rent: $215
Size: 15 acre(s)

Financial Information (Actual)

Gross Income: $111,000
Operating Expense: $33,500
Net Operating Income: $77,500
Expense Ratio: 30.2 %

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $400

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