For Sale
For Sale
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Total Building Size
1,000 RSF
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Overview
Meticulously maintained predominately senior occupied fully tenant owned mobile home community located seven miles from Downtown Michigan City Indiana off of Lake Michigan Delta Group LLC in association with JDS Real Estate Services Inc. is pleased to present for sale this immaculate fully occupied, predominately 55+, fully tenant owned mobile home community located seven miles from Downtown Michigan City Indiana off of Lake Michigan. Market rents hover right around $400-$450 in the Michigan City MSA and the seller has not significantly raised rents to ever run in line with market figures. Within two years this park has the ability to yield north of an 8 Cap through two rent raises bringing rental rates on the conservative end of market which is a rarity for a stable and predominately senior fully TOH park in the Michigan City market.
Property Details
Meticulously maintained predominately senior occupied fully tenant owned mobile home community located seven miles from Downtown Michigan City Indiana off of Lake Michigan Delta Group LLC in association with JDS Real Estate Services Inc. is pleased to present for sale this immaculate fully occupied, predominately 55+, fully tenant owned mobile home community located seven miles from Downtown Michigan City Indiana off of Lake Michigan. Market rents hover right around $400-$450 in the Michigan City MSA and the seller has not significantly raised rents to ever run in line with market figures. Within two years this park has the ability to yield north of an 8 Cap through two rent raises bringing rental rates on the conservative end of market which is a rarity for a stable and predominately senior fully TOH park in the Michigan City market.
- Property TypeMulti-Family
- Submarket
- Sale Price$1,800,000
- Total Building Size1,000RSF
- Total Acres10.0
- Sale StatusAvailable
- Last updatedAug 10, 2021
- Property ID2200593
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