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Mobile Home Park

Golden Pond Estates

61600 Youngman Rd, Three Rivers, MI 49093

Listing Price: $2,300,000

Cap Rate
6.59%
Number of Spaces
42
Lot Size
16.71 acres
Occupancy
95.0%
Price/Space
$54,762
Spaces/Acre
2.51
Year Built
1990

Investment Overview

Marcus & Millichap is pleased to present Golden Pond Estates located in Three Rivers Michigan. This 42 site park is spread across 16.71 acres. The park was constructed 1970. The roads are in great shape throughout the community as they have been repaved throughout. Tenants enjoy off street private parking. Forty-one of the forty-two sites are occupied with single wide homes. All but five homes in the community are tenant owned. The park owned homes remaining are all post 2017 homes. Gas and electricity are separately metered and paid for directly by tenants. Water and sewer is on private well and septic both well and septic systems were installed in 2017. A sanitary survey was recently completed through EGLE and is good for three years. Ownership has a reasonable quote to implement water/sewer metering to pass along expense to tenants. There is a portion of the property that can be developed into self or outdoor storage. There is an onsite manager currently in place at the community as well as an hourly grounds man. We invite you today to look at this stabilized recession proof asset in South West Michigan.

Investment Highlights

  • Stabilized park
  • Five remaining park owned homes
  • Private well and septic

Exclusively Listed By

Mobile Home Park

Golden Pond Estates

Listing Price: $2,300,000

Cap Rate
6.59%
Number of Spaces
42
Lot Size
16.71 acres
Occupancy
95.0%
Price/Space
$54,762
Spaces/Acre
2.51
Year Built
1990

Investment Highlights

  • Stabilized park
  • Five remaining park owned homes
  • Private well and septic

Investment Overview

Marcus & Millichap is pleased to present Golden Pond Estates located in Three Rivers Michigan. This 42 site park is spread across 16.71 acres. The park was constructed 1970. The roads are in great shape throughout the community as they have been repaved throughout. Tenants enjoy off street private parking. Forty-one of the forty-two sites are occupied with single wide homes. All but five homes in the community are tenant owned. The park owned homes remaining are all post 2017 homes. Gas and electricity are separately metered and paid for directly by tenants. Water and sewer is on private well and septic both well and septic systems were installed in 2017. A sanitary survey was recently completed through EGLE and is good for three years. Ownership has a reasonable quote to implement water/sewer metering to pass along expense to tenants. There is a portion of the property that can be developed into self or outdoor storage. There is an onsite manager currently in place at the community as well as an hourly grounds man. We invite you today to look at this stabilized recession proof asset in South West Michigan.

Exclusively Listed By

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