Listed by Real Estate One Troy
$375,000
1723 S Van Dyke Road
Details
APN 0602802700
Property Type Business for Sale, Land
Sub Type Business and Building, Residential
Square Footage 3,840
NOI $30,000
Year Built 9999
Acreage 23.450
Business for Sale | 3,840 SqFt
Marketing 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.
Listing Contacts
Listed by Real Estate One Troy
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$30,000.00
$2,500.00/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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