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11285 E Pleasant Lake Rd Manchester, MI 48158

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For Sale
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24-site community near Pleasant Lake with income upside.

Property Features for 11285 E Pleasant Lake Rd

General Information

Standard status
Active

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Listing Contact
Phillip Li
Source: Crexi

Listing Agency: eXp Commercial Listing Agent: Phillip Li

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Pleasant Lake Manufactured Housing Community

Pleasant Lake MHP is a 24-site manufactured housing community located in Manchester, MI. The community includes 13 occupied park-owned homes, generating an average rent of $1,105 per month, and 8 lot renters paying $590 per month. All lots are master-metered for water & sewer, which are included in the rent. Electric and natural gas are direct billed to tenants. The investment strategy for this park includes gradually raising rents to market levels, implementing utility bill-backs through a flat-rate fee, and filling the two remaining vacant spaces. The current owner has declined several prospects interested in moving in their own homes, preferring instead to bring in park-owned homes for higher rental income. A new owner could readily fill these desirable lakefront properties. The park is within walking distance of Pleasant Lake, providing easy lake access and a strong draw for residents. This stabilized lakefront asset presents a new investor with a 10.57% cash-on-cash return from day one, along with upside potential through rent increases and utility expense recovery, all in an exceptionally desirable location.
Location Intelligence

Current Use by Public Records

Pleasant Lake Mobile ... Campground & RV Park

Suggested Use

Spa & Massage Center Gym & Fitness Center Skin Care Clinic Grocery & Convenience Store Food Market Veterinary Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Manchester
County
Washtenaw
State
Michigan
Longitude
-83.950196
Latitude
42.206603

FAQs

What type of property is this?
Mobile home & RV park - 24-site community near Pleasant Lake with income upside.
Where is this mobile home & rv park located?
The property is located at 11285 E Pleasant Lake Rd Manchester, MI.
What are key features of this property?
This property features: - Stabilized lakefront asset with an impressive 10.57% cash-on-cash return.; - Favorable seller financing available: $1M down, 5% interest, 30-year amortization, 5-year balloon.; - Walking distance to Pleasant Lake, offering easy lake access.
More about this property
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