Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0%
- Listing ID: 454090
- Posted On: Jun 2, 2014
- Updated On: Apr 13, 2016
Description
BELOW MARKET RENT! Western Michigan - Close to 2nd Largest City in Michigan! Last Rent Increase was in 2010! Great On-Site Management & Good Rent Collection! NEW Water & Sewage Upgrades within last 2 years! Private System is Professionally Managed! Site Rent Includes Water, Sewage & Trash Removal. Financial Synopsis: 13% Total Income Cap Rate, 10% Lot Rent Only Cap Rate, 28% Cash on Cash Return, & 36% Net Profit After Debt Service!
Contact Andria Strittmatter MHP 360 at 317.800.1840 or mhp360@gmail.com for more information.
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: | 50 |
| Total Occupancy: | 92.0 % |
| Year Built: | 1972 |
| Average MH Lot Rent: | $295 |
| Size: | 13 acre(s) |
Lot Information
| Singlewide Lots: | 50 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 2 |
| Average Rent for Park-owned Homes: | $295 |
