Tenant-Owned Manufactured Housing
For Sale
$3,300,000
9178 S Lucille St, Traverse City, MI 49684
First Point MHC is a 50-unit, 100% occupied tenant-owned manufactured housing community with private well and septic systems.
Property SizeContact for details
Lot Size10.56 Acres
Days on Market127
Property Features for 9178 S Lucille St
General Information
Standard status
Active
Lot size
10.56 Acres
Property subtype
Mobile Home Park
Occupancy
100%
Additional Details
Cap Rate
7.1%
Multifamily Units
50
Amenities
100% Occupancy
100% TOH Community
Significant Lot Rent Upside
Building Details
Year Built
1980
Listed By:
Dylan Hellberg · License #License(s): SC: 115377
(843) 952-2264
Source:
Marcusmillichap
Added: May 8
Changed: Sep 7
Last Checked: Sep 10 at 5:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dylan Hellberg
Investment Insights
Based on property information with market context.
First Point MHC is a 50-unit manufactured housing community consisting entirely of tenant-owned homes, with the community reported as 100% occupied. The property sits on approximately 10.56 acres and operates with tenant-paid utility services, including electric, gas/propane, and cable delivered through direct billing. Trash is curbside and direct-billed to tenants, while the landlord is responsible for mowing common areas and snow plowing. The community also generates utility revenue estimated at approximately $63 per unit per month.
Water service is provided through a private well system, with billing back to tenants. Wastewater is handled by a private septic system, and the septic system is currently under an active replacement project with EPA oversight, scheduled to be completed before closing.
The offering is described as not located in a flood zone or an opportunity zone. The seller is marketing First Point MHC as 50 tenant-owned homes with zero park-owned homes, no RV lots, and no single-family home units.
Water service is provided through a private well system, with billing back to tenants. Wastewater is handled by a private septic system, and the septic system is currently under an active replacement project with EPA oversight, scheduled to be completed before closing.
The offering is described as not located in a flood zone or an opportunity zone. The seller is marketing First Point MHC as 50 tenant-owned homes with zero park-owned homes, no RV lots, and no single-family home units.
Key Highlights
- 50‑unit, 100% occupied manufactured housing community with 50 tenant‑owned homes (TOH)
- ~10.56‑acre community with average lot rent of $490/month and projected mark‑to‑market rents of $750/month
- Utility revenue of approximately $63/unit/month, with tenant‑paid utilities via direct bill (electric, gas/propane, cable)
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
50
Residential units
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mobile home & RV park - First Point MHC is a 50-unit, 100% occupied tenant-owned manufactured housing community with private well and septic systems.
Where is this mobile home & rv park located?
The property is located at 9178 S Lucille St Traverse City, MI.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 50‑unit, 100% occupied manufactured housing community with 50 tenant‑owned homes (TOH); ~10.56‑acre community with average lot rent of $490/month and projected mark‑to‑market rents of $750/month; Utility revenue of approximately $63/unit/month, with tenant‑paid utilities via direct bill (electric, gas/propane, cable)
