Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.5%
- Listing ID: 1019437
- Posted On: Jan 2, 2019
- Updated On: Dec 5, 2023
Description
Three stabilized and long-time family owned mobile home communities, totaling 165 sites. Seller will offer them as a package or individually, except that a purchaser will need to buy Phelps to get Dogwood. These well-managed properties are at 89.7% overall occupancy. The park owned inventory features nice homes with mostly seasoned balances, resulting in favorable pricing for that component of the deal. Offered at an 9.5% cap rate on the real estate NOI. Tenured resident managers at each location. Michigan broker of record: Kurt Kuntz, NAI Wisinski of West Michigan.
Location
Located in the prosperous West Michigan area, locations are near Grand Rapids and Kalamazoo, MI.
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 165 |
Total Occupancy: | 89.7 % |
Average MH Lot Rent: | $360 |
Size: | 68 acre(s) |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |