Starting Bid: $750,000
ONLINE AUCTION March 25-27, 2024

Investment Highlights
359 Total Pad Sites – Royal Village: 208 Pads / Warwick Village: 151
Significant value add opportunity to stabilize communities through lease up of vacant pad sites & achievable rent growth
Below market occupancy
Strong demand for affordable housing in these markets
All resident owned homes
Recession resistance investment opportunity with high barrier to entry MHP marketplace

Property Overview
Friedman Real Estate, in conjuction with RI Marketplace, has been retained as exclusive advisor for the 100 percent fee simple interest sale of the ± 359-pad Mobile Home Portfolio located within the greater Detroit MSA. The portfolio consists of two assets; Royal Village (± 208 pads) located in Romulus, Michigan, and Warwick Village (± 151 pads) located in Redford, Michigan. The portfolio presents a unique value add opportunity with tremendous upside potential through park infill and a hands-on management approach. The parks are on city water and sewer with individual gas and electric meters at each pad. Both communities are well located within quick reach of local expressways (I-94/I-96), major employers, and numerous retail amenities.

Auctioneer
Jerry Helmer
Fisher Auction Company Inc.
License: 6504064915