ASKING: $4,600,000
LOCATION OVERVIEW
• Approximately 14 acres over two parcels of maturely wooded land. Backing to a nature preserve, it provides tenants with both privacy and opportunities for outdoor recreation and enjoyment.
• Located just five miles east of Michigan State University and minutes away from Meridian Mall, MHP finds itself in a sprawling, family-friendly suburb of Lansing, MI.
• School District is considered highly-desirable. The High School, for example, earns
an 8 out of 10 score from Greatschools.org.
• This A-/B+ class area attracts professionals, families and university students. Adjacent to the
property, for example, lies a subdivision of homes valued in the $600,000-$700,000 range - more than double the value of the average home in Michigan.
• The demand for affordable housing remains strong. Two bedroom, one bathroom apartments in
the area are commanding an average rent of $1100-$1200 per month.
PROPERTY HIGHLIGHTS
• New municipal water infrastructure.
• Paved roads throughout the community & freshly sealed.
• Licensed for 72 mobile home units: 53 are occupied, 9 vacant, 10 empty lots. Opportunity to increase occupancy by 36% in the mobile home space alone.
• Lot and home rents are well below market. Currently, lot rents alone average $652 per month with a
range of $457-$1197.
• Vacant structures on the property provide opportunity for additional tenant and/or storage rents: 1
duplex, 5 cabins, numerous storage sheds.
• Opportunity to implement RUBS on water usage.
• Opportunities to provide additional amenities, such as a dog park, playground, firepits, nature trails, etc.
• Poorly managed by current owner, community will greatly benefit from professional management.