Kent City MHC
Mobile Home Park Details
- Cap Rate: 11.0%
- Listing ID: 69075
- Posted On: Apr 26, 2011
- Updated On: Apr 30, 2012
Description
Kent City MHC is an all-aged manufactured housing community located in Kent City, Michigan. The community consists of 74 spaces and is situated on 20 acres, including 10 acres of undeveloped land at the back of the property. Kent City MHC was built in the 1970s. Water is provided via a private well system. Sewer is provided by the city. There are five park-owned, lease-to-own homes available for purchase, but not included in the purchase price.
Location
CB Richard Ellis, Inc., as the exclusive marketing broker, is pleased to offer Kent City MHC and Windmill Pointe Village for sale. The two communities are offered for sale together as a portfolio, but also can be purchased individually.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 74 |
| Total Occupancy: | 83.8 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $273 |
| Size: | 20 acre(s) |
Financial Information (Actual)
| Gross Income: | $213,896 |
| Operating Expense: | $102,834 |
| Net Operating Income: | $111,062 |
| Expense Ratio: | 48.1 % |
Lot Information
| Singlewide Lots: | 74 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | City |
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