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1723 S Van Dyke RD Colfax Township, MI 48413
1,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type BusinessandRealEstate
Listing Status Active
Purchase Type For Sale
Square Footage 1,000 sqft
Price per Sqft $375
MLS Listing ID 20261038882
Lot Size 23.450 Acres
Acres 23.45
Property Sub-Type BusinessandRealEstate
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.
$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
Area Area32171Colfaxtwp
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
View Y/N No
Garage false
Building
Sewer Septic Tank
Water Well
New Construction No
Schools
School District Bad Axe
Others
Senior Community false
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Jack Butris of Real Estate One-Troy
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