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Address is Gladwin, MI 48624-2019

Michael Calin

MHP Global

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Key Mobile Home Community SENIOR COMMUNITY

Mobile Home Community for Sale in Gladwin, Michigan

Gladwin, MI 48624-2019
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Sale Price: $465,000

Contact Information

Michael Calin
MHP Global

Mobile Home Park for Sale

Number of MH Lots: 32
Size: 40 acre(s)
Cap Rate: 10.5%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 72670
Posted on: Jun 18, 2011
Updated on: Sep 13, 2017
Price: $465,000

Property Description

30 acres some wooded and some property and mobile home sites have lake frontage. This is a beautiful community that is mostly older adults. There are 32 Lots and currently 80% occupied so there is some upside potential. The community is being submetered for water currently so this should add to the bottom line. Manager handles non payment and all maintenance issues.

Want to know what your mobile home community is worth, click on this link and give us some general information about your Community and we will give you our proffesional opinion of what your community is worth on today's market.

LINK> http://remaxsignaturecommercial.com/a_16331-Value_your_Community_ReMax_Signature_Commercial_Division.html

Location Description

Gladwin,
Michigan

Park Information

Number of MH Lots:32
Total Occupancy:80.0%
Average MH Lot Rent: $235
Size:40.0 acre(s)

Financial Information (Actual)

Gross Income$72,000
Operating Expense$20,000
Net Operating Income$52,000
Expense Ratio 27.8%
Debt Info

Lot Information

Singlewide Lots:32
Doublewide Lots:0
Triplewide Lots:0
Park Model Lots:0

RV Information

Number of RV Lots:0
Average RV Lot Rent: $0

Utility Information

Water:Well
Water Paid By: Tenant - Submetered
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:6
Average Rent for Park-owned Homes: $350

Amenities and Other

Storage: Yes