Somerset MHP This is a distressed park with a low price and high potential. With good management and a rehab plan for the existing homes needing rehabbed this park could easily turn a profit. bring in a few homes and you could quickly have a cash cow. We bought this park in distress. cleaned it up a lot but our situation has changed and we can't take it any furtherer . Our loss is your gain.
7+ acres office building with plenty of storage, one stick built house with garages, 50 lots ttl. with ability to install trailers on lots with abs pads, Area is okay with older homes, RV spaces have been an interest. the park is licensed for 75 spaces and there is plenty of room to expand.
There is a very full park just a mile down the road from this one that has all older homes and collects rent well. To our understand it has a very strict manager which is what our park lacks. A new plant in Lords town just 5 miles down the road is being built and we were approached about employee housing. We don't have the capital or time to further this park . However Warren is a very busy area and Lords town is growing. Well ran and managed parks around the area are prospering. This park could too.
This park needs some TLC but is a steal

This could make someone willing and able to rehab the park an amazing investment.
Income
lot
0 $ 425.00 rented 9/1/2018
11 $ current manager
14 $ 400.00
22 $ needs rehabbed approx 2k in cost
24 $ 298 pays each month
27 $ 400.00 land contract
29 $ rehab ?
30 $

37 $ needs rehab approx 2k
43 $ 315
44 $ rehab
46 $ Rehab
45 $ 180 RV
47 $ being evicted

Miller side
1 $ rehab
3 $ rehab
9 $ needs evicted moved out and abandoned in July 2018

Expense
Water 550-1000 average installing meters is not too expensive and would pass this cost to the tenant
Trash 135
Insurance 150
electric 80
Tax 2000 annual
license $475 annual