- Extremely rare opportunity to acquire a sizable, 321-site community in an MSA of over 5.6 million people.
- 23 vacant and 82 occupied rent-to-own and rental homes with an average cost basis of approximately $15,000 generating gross monthly rent of $12,400 per month for the home only.
- Terrific submarket with average household incomes around $63k and median housing values over $208k within a 5 mile radius.
- Property can be delivered unencumbered and should qualify for a very attractive fixed rate, long term, non-recourse loan.
- At 86% economic occupancy and with 23 vacant homes, there is tremendous opportunity to continue filling vacant homes and sites. Strong tenant demand indicated by the fact that occupancy has increased over 10% since July 2013.
- Nearby competing park recently closed and was replaced with retail.
- Three-section community that features rolling hills and an attractive, curvilinear layout with mature shade trees throughout and a mix of double- and single-wide homes.
- Amenity package includes a pool, playground, clubhouse and offstreet parking.
- Community is set up on public utilities and submetered for water and sewer.