Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 10.0%
- Listing ID: 3113415
- Posted On: Jun 9, 2023
- Updated On: Dec 19, 2023
Description
Sites Total: 37
Resident Owned Homes: 26
Rental Homes : 0
1 Stick Built Home
Vacant Homes: 3
Storage Unit- Unoccupied: 1
Vacant Lots: 8
Park has City/ City Sewer - Town bills direct
5.5% INTEREST ONLY SELLER FINANCING LOAN ON FULL ASKING WITH 50% DOWN TO QUALIFIED BUYERS. Low expense ratio. Sub-metered Master Meter Service - Tenants direct billed for trash pick and more. 13% CASH ON CASH RETURN WITH INTEREST ONLY SELLER FI. LOAN
Location
Located near Keweenaw Bay and 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: | 37 |
| Total Occupancy: | 65.0 % |
| Year Built: | 1985 |
| Average MH Lot Rent: | $355 |
| Size: | 17 acre(s) |
Financial Information (Actual)
| Gross Income: | $119,370 |
| Operating Expense: | $34,675 |
| Net Operating Income: | $84,694 |
| Expense Ratio: | 29.0 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
