Investment Overview

The lot rent in the MHP averages $387. The SS rent is $250-$275/month for a large unit and $50/month for a small unit. The GS rent is $60/Month. The auto shop’s rent is $750/month. The LGS units are approximately the same size as the large SS units, so an investor can market these for rent in the $200-$300 range. The pumping station’s rent is $1,350/month. The ground lease on the pumping station expires 12/31/2024 and has four, 1-year options to renew with a $100/month rental increase at each option. All buildings/units on the property are serviced by public water/sewer. For the pumping station ground lease, the tenant pays all related expenses except for real estate taxes; for the autobody shop, the tenant is responsible for liability insurance, electrical and gas and the landlord is responsible for all other expenses; and for the self-storage buildings, the landlord is responsible for all expenses. All leases for the SS, GS, LGS and auto shop are month-to-month. Electricity is billed directly to all tenants in the MHP. The roads are paved and in below average condition. This property is NOT in an opportunity zone or flood zone.