5125 N Center Rd - Manufactured Housing/Mobile Housing FOR SALE


Flint, MI 48506
$950,000 USD
810-986-2331
5125 N Center Rd, Flint, MI for Sale
$950,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/10
null | 9.56% Cap Rate

5125 N Center Rd
Flint, MI 48506


HIGHLIGHTS

  • Low operating costs
  • Close to amenities: schools, shopping, freeway and major roads.
  • Value Add opportunity for capable experienced MHP operator.

OVERVIEW

MOBILE HOME PARK W/VALUE ADD OPPORTUNITY IN GENESEE CHARTER TOWNSHIP. Park is licensed for 93 Homes. 30 homes currently available, 23 in operation. 2024 GRI $156,214 NOI $90,742 2023 GRI $200,073 NOI $112,441 2022 GRI $279,817 NOI $194,593 2021 GRI $322,885 NOI $259,044 NEW EXPERIENCED QUALIFIED MANAGEMENT, ADDING NEW AND REPAIRING EXISTING PARK HOMES WILL ADD VALUE AND INCREASE THE CASH FLOW AND NOI TO 2021 PERFORMANCE AND STRONGER. ADDITIONAL LARGE FOR POSSIBLE COMMUNITY EXPANSION. Owner is looking for serious offers for a quick sale, large price reduction just took place.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$14 USD /SF

# OF UNITS

87

PRICE/UNIT

$10,920

CAP RATE

9.56%

% LEASED

25%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Genesee Villa Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

24

LAND DETAILS

LAND ACRES

9.5 AC

LAND SF

413,820 SF

ZONING

Commercial general

APN/PARCEL ID

11-21-400-010

ASK ABOUT THIS PROPERTY

Glen BrownRE/MAX COMMERCIALMore Info
810-986-2331

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Glen BrownRE/MAX COMMERCIALMore Info
810-986-2331

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.