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$ 375,000
Est. payment | /mo
3,840 SqFt
$ 375,000
Est. payment | /mo
3,840 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,840 sqft
Price per Sqft $97
Municipality Colfax Twp
Subdivision Colfax Twp
MLS Listing ID 20261038882
Annual Tax Amount $8,918
Lot Size 23.450 Acres
Acres 23.45
Lot Dimensions 700 x400
Source Realcomp
Property Description
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.
Location
State MI
County Huron
Zoning Commercial
Direction off van dyke
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Well
Structure Type Other
Schools
School District Bad Axe
Others
Tax ID 0602802700
Listed by Real Estate One-Troy
Nearby Locations
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Michelle Bennett-Siwula
REALTOR® | Lic# 6501410639