Property information
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.
Systems
- Forced Air
- Private Well
- Septic Tank
Listing Courtesy of MiRealSource. Listing Office Real Estate One-Troy (248) 813-4900. For buyer's agent representation click here.
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