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Michigan 3 Park Portfolio

Michigan

Property overview

All 3 communities are within 45 minutes of one another and are located in the cities of Pleasant Lake, Jackson and Marshall, Michigan.

The parks are situated on a combined total of 42.37 +/- acres, with easy access to local schools, parks and recreational amenities. Over the past several years, current ownership has consistently increased occupancy to its current status (81.2% economic occupancy), leaving a new investor an opportunity to continue to fill sites and increase their returns. Furthermore, an investor has the ability to implement a RUBS system for sewer and water, for another revenue source to further increase their returns.

Currently the park owned homes inventory consist of 12 leased homes, 27 lease option homes and 4 vacant inventory homes. Most of the homes are late 1990 and early 2000 vintage.

Michigan 3 Park Portfolio

Michigan

For detailed information on this property please contact: Colleen Lannoo .

Property Summary

Total Sites117
Year ConstructedVarious
Land (Acres) +42.37
Occupancy81.2%
Average Rent/Site$345
PRIMARY USEMHP

OFFERING SUMMARY

Community Price$2,024,714
Community Owned Homes & Notes$425,286
Total Investment$2,450,000

HOME SUMMARY

LEASED HOMES12
LEASED OPTION HOMES27
MODELS/INVENTORY4