Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Lakeview Estates, a 245-site, all-age manufactured housing community located in Durand, Michigan. The property includes 239 manufactured home sites and 6 apartments, and is currently operating at 55% occupancy, offering significant upside for investors through targeted lease-up and operational improvements. With nearly half of the MH sites vacant, Lakeview Estates presents substantial value-add potential through home infill, strategic marketing, and enhanced management practices. As one of the larger communities in the region, the property delivers attractive scale in a single location, creating operational efficiencies and positioning it well for regional or institutional investors. The community is served by private well and sewer systems, with trash service recently billed back to residents at $15 per month. This cost recovery model reduces ownership expenses and boosts net margins. Resident amenities, including a playground, boat and RV storage, pet-friendly policies, and lakeside walking access, enhance community appeal and support resident retention. Strategically located in a growing corridor, Lakeview Estates offers convenient access to I-69 and is within commuting distance to both Flint and Lansing, making it an ideal choice for workforce housing. The property’s straightforward infrastructure and manageable footprint make it a compelling acquisition for both seasoned operators and newer manufactured housing investors seeking a scalable, income-producing asset.