Investment Overview

Marcus & Millichap is pleased to present Lakeside Mobile Court located in Flint, Michigan. This waterfront community built in 1965 consists of 71 lots and one apartment. Of the lots there are forty eight privately-owned homes, six homes on either leases or rent to own contracts, six vacant park owned homes, two homes for sale, and nine vacant lots. All but three homes are single-wide homes. Tenants are responsible for all utilities within the park including city water and sewer which is billed back to tenants. Electricity and gas are separately metered and billed directly to tenants. The apartment rents for $825 a month and includes all utilities. Current ownership has invested in the park including new signage, on-site office renovations including a new roof, security system installation, road repairs, water line upgrades, electrical upgrades, tree trimming and removal, and rehabbing park owned homes. There is on-site management within the community. The park is below market on lot rent and provides additional upside through increasing occupancy. We invite you today to look at this unique investment opportunity.