1142 Lansing St - Manufactured Housing/Mobile Housing FOR SALE
Adrian, MI 49221 |
1142 Lansing St
Adrian, MI 49221
HIGHLIGHTS
- The mobile home park has recently been redeveloped with new roads constructed throughout the property and is prepped for lease up.
- The subject property is currently located in Adrian's only opportunity zone.
- Current rents at the community are $385 which are under market for the area of ~$450.
- There are 110 vacant sites which after homes are placed can be leased up to stabilize the community.
- The property has convenient and quick access to US-223 and Beecher Street, both of which offer connection to Adrian, Detroit, Ann Arbor and Toledo.
- The Greater Detroit MSA boasts over 4.2 million residents and is home to numerous Fortune 500 companies such as General Motors.
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
-
% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Kings Court Mobile Home Community
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Manufactured Housing/Mobile Housing
ADD'L SUBTYPES
Apartments, Dormitory
TOTAL BUILDING SIZE
115000
STORIES
1
YEAR BUILT
1986
PARKING SPACES
25
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
XA0-265-0015-00
