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Mobile Home Park

Atherton Crossing MHC

1549 E Atherton Rd, Flint, MI 48507

Listing Price: $2,500,000

Cap Rate
7.07%
Number of Spaces
188
Lot Size
13.48 acres
Occupancy
41.0%
Price/Space
$13,298
Spaces/Acre
13.95
Year Built
1965

Investment Overview

Marcus & Millichap is pleased to present Atherton Crossing located in Flint Michigan. This 188 site mobile home community spans across 13.48 acres including a 960 square feet brick single family home. The park consists of 29 privately owned homes, 39 homes currently on a rent to own structure, 105 vacant parked owned homes, and approximately 13 vacant lots along with one manager occupied home. Current ownership has been renovating vacant homes and infilling them with tenants with a strategy to increase private ownership within the community. Lot rent varies within the community from $235 to $400. There is an on site office, as well as storage. Utilities are public water, sewer, and consumers energy are master metered and billed back to tenants. The community is well positioned for future income growth as occupancy is increased within the community. Current ownership has been renovating and selling homes within the community. We invite you today to look at this value add investment opportunity today.

Investment Highlights

  • Public utilities paid for by tenants.
  • Proven income growth strategy already in place.
  • On site manager.

Exclusively Listed By

Mobile Home Park

Atherton Crossing MHC

Listing Price: $2,500,000

Cap Rate
7.07%
Number of Spaces
188
Lot Size
13.48 acres
Occupancy
41.0%
Price/Space
$13,298
Spaces/Acre
13.95
Year Built
1965

Investment Highlights

  • Public utilities paid for by tenants.
  • Proven income growth strategy already in place.
  • On site manager.

Investment Overview

Marcus & Millichap is pleased to present Atherton Crossing located in Flint Michigan. This 188 site mobile home community spans across 13.48 acres including a 960 square feet brick single family home. The park consists of 29 privately owned homes, 39 homes currently on a rent to own structure, 105 vacant parked owned homes, and approximately 13 vacant lots along with one manager occupied home. Current ownership has been renovating vacant homes and infilling them with tenants with a strategy to increase private ownership within the community. Lot rent varies within the community from $235 to $400. There is an on site office, as well as storage. Utilities are public water, sewer, and consumers energy are master metered and billed back to tenants. The community is well positioned for future income growth as occupancy is increased within the community. Current ownership has been renovating and selling homes within the community. We invite you today to look at this value add investment opportunity today.

Exclusively Listed By

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