Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.5%
- Listing ID: 1446386
- Posted On: May 27, 2021
- Updated On: Sep 24, 2021
Description
For more information please go to www.wiselycr.com or click on the following links.
Offering Memorandum Link: https://www.crexi.com/properties/611179/michigan-golden-pond-estates-mhc?offeringMemorandum=download
Due Diligence Vault Link: https://www.crexi.com/properties/611179/michigan-golden-pond-estates-mhc?openDueDiligence=open
Video Link: https://youtu.be/HFhZeMzlyYU
PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Golden Pond Estates located in Three Rivers, Michigan. Golden Pond MHC consists of 42 approved home spaces. The property is serviced by well water and septic for sewer. The community has 41 of the 42 sites occupied with only 6 sites that have park owned homes. The community is 98% occupancy and offers a new owner great stability. The community includes six park owned homes (5 that are 2017 or newer) in the sale that are being rented out.
INVESTMENT HIGHLIGHTS
• Stable Community with 98% occupancy
• Lots of Capital Improvements Completed in Recent Years
• Mainly Resident Owned Homes (85%)
• Major Employers nearby the Community
Park Information
Number of MH Lots: | 42 |
Total Occupancy: | 98.0 % |
Average MH Lot Rent: | $370 |
Financial Information (Actual)
Gross Income: | $201,240 |
Operating Expense: | $48,888 |
Net Operating Income: | $152,352 |
Expense Ratio: | 24.3 % |
Lot Information
Singlewide Lots: | 42 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |