• 10055 West 50 N Michigan City, Michigan City, IN 46360

For Sale

Multi-Family

For Sale

This property is available for sale
10.0
Acres
$1,800,000
Sale Price
  • Total Building Size
    1,000 RSF
  • 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.

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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 Type
    Multi-Family
  • Submarket
  • Sale Price
    $1,800,000
  • Total Building Size
    1,000RSF
  • Total Acres
    10.0
  • Sale Status
    Available
  • Last updated
    Aug 10, 2021
  • Property ID
    2200593

Landlord's Sales Representatives

  • Emanuel Grivas
     
  • small@deltagroupllc.com
     
  • DAVID MONTALVO
    JDS Real Estate Services, Inc.