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Mobile Home Park

Lakeview Estates

8499 M-71, Durand, MI 48429

Listing Price: $5,835,000

Cap Rate
6.00%
Number of Spaces
246
Lot Size
63.80 acres
Occupancy
60.0%
Price/Space
$23,720
Spaces/Acre
3.86
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Lakeview Estates, an all age manufactured housing community located in Durand, Michigan. The community consists of 246 sites with only five park owned homes. Lakeview Estates is conveniently located near Interstate 69 providing immediate access to an ample amount of shopping and restaurants. There is a Kroger and Meijer located within a 15 minute drive. New ownership can implement an aggressive sales program to increase occupancy and increase below market rents. Debt to be assumed or defeased at Buyers expense, see Debt Summary on page 16.

Investment Highlights

  • Opportunity to Acquire an All Age Manufactured Housing Community Located in Durand, Michigan
  • 246 Sites that are 60 Percent Occupied Allowing a New Investor to Implement an Aggressive Sales Program. Only Five Park Owned Homes
  • Convenient Location Near Interstate 69 Providing Immediate Access to Shopping and Dining
  • Below Market Rents - Nearby Community Rents Average $436

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Mobile Home Park

Lakeview Estates

Listing Price: $5,835,000

Cap Rate
6.00%
Number of Spaces
246
Lot Size
63.80 acres
Occupancy
60.0%
Price/Space
$23,720
Spaces/Acre
3.86
Year Built
1970

Investment Highlights

  • Opportunity to Acquire an All Age Manufactured Housing Community Located in Durand, Michigan
  • 246 Sites that are 60 Percent Occupied Allowing a New Investor to Implement an Aggressive Sales Program. Only Five Park Owned Homes
  • Convenient Location Near Interstate 69 Providing Immediate Access to Shopping and Dining
  • Below Market Rents - Nearby Community Rents Average $436

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Lakeview Estates, an all age manufactured housing community located in Durand, Michigan. The community consists of 246 sites with only five park owned homes. Lakeview Estates is conveniently located near Interstate 69 providing immediate access to an ample amount of shopping and restaurants. There is a Kroger and Meijer located within a 15 minute drive. New ownership can implement an aggressive sales program to increase occupancy and increase below market rents. Debt to be assumed or defeased at Buyers expense, see Debt Summary on page 16.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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