Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.8%
  • Listing ID: 1452772
  • Posted On: Jun 5, 2021
  • Updated On: May 8, 2023

Description

38 Total Sites - City Water & City Sewer DIRECT BILLED TO TENANTS BY PUBLIC UTILITY. 78% Occupancy. All lots can accomodate single or doublewide units. 16.70 acres. Includes very nice 3/2 home. Cash Cow. Value Add with Opportunity for New Owner to Increase Rents. Sorry, not interested in Seller Financing. For more information call 832.289.1096.

Location

L'Anse Michigan 5 minute drive to Lake Superior

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 38
Total Occupancy: 78.0 %
Average MH Lot Rent: $357
Size: 17 acre(s)

Financial Information

Gross Income: $127,600
Operating Expense: $33,715
Net Operating Income: $93,885
Expense Ratio: 26.4 %
Debt Info: N/A

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City