Mobile Home Park For Sale Perfect 1031 Exchange. Mount Morris Mobile Home Park is a great opportunity to add a lot of value in several different aspects! The park is nestled on 78 green acres and comprises 391 spacious lots. Mount Morris MHP currently has 111 occupied homes with 150 vacant homes ready for rehab or handyman units ($1,500-$3,500) and the remaining lots (130) are vacant for new homes to be brought in or Monthly RV Tenants (great source of income prior to in-fill). We rent units instantly when rehabbed. 391 Total Spaces, 261 Homes On-Site, 220 Park Owned Homes, 130 Vacant Pads w/ No Homes. Also, the current monthly lot rent (not including home rent for POH) is between $405-$437/lot which is min $150 below market rents. 2022 NOI $412k. Current CAP 9.4% and Pro Forma CAP 18% for rent increase and 25 new leases.  Phase 2 value-add option, bring in additional homes for the vacant lots or Monthly RV rentals. The MHP needs roads repair/ repaved, street lights fixed and updated power poles for vacant homes, landscaping, etc. This park is located in beautiful Genesee County.  If you want to see this MHP potential just look at the park across the street, Highlands Estates. Genesee City water source has always been clean and safe, never been associated with the Flint water crisis. There is a lot of value that can be added for the low price of ONLY $11k/lot! Mount Morris City website has these wonderful things to say, "We offer a family oriented, safe and quiet community, friendly neighbors, clean streets and great public service. We are close to I-75 and I-475 which provide easy access to shopping, entertainment, and a good reason to make Mt. Morris your home. We are close to Birch Run and Frankenmuth, all within 15 minutes. Detroit and Lansing are only 1 hour away."

For Sale by owner.