$ 375,000
-
$375,000
Price -
23.45
Acre
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About the Listing 08114902 - 294875
Bad Axe 27 mobile homes total, including the site manager’s home. $300,000 Below Appraised Value |27-Unit Residential Income Portfolio | Offered at $375.000, This stabilized residential income portfolio comprises 27 single-mobile home residences on 23 AC properties. Running at 80% occupancy under continuous professional management, the portfolio generates $4000 in gross monthly rents — $4800 annually. At a standard 30% expense ratio, estimated NOI lands at approximately $30000, placing this offering at an 8.0% cap rate on the ask price not including the vacancy. To put that in perspective: you’re buying a sub-9-cap asset for a 10-cap price.
Listing Highlights
Interior Details
- Appliances:
- Air Cond:
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 3840
- Basement:
- Other: 1 Story,Forced Air
- Water: Well (Existing)
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 700 x400
- Zoning: Commercial
- Roof:
- Others: Paved
- Sewer: Septic Tank (Existing)
Financial Details
- Tax Amount: $8,918
- Taxes w/Assessments: N/A
- Tax/Property ID: 0602802700
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1723 S Van Dyke Rd Colfax Twp, MI 48413
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