Riverview Estates MHC is an allage
197-site community serviced
by public utilities located in the
desirable Great Lakes Bay Region
on the upper eastside of Michigan.
– Tremendous value-add opportunity to fill the remaining
vacant homes/sites as the property is only at 41% economic
occupancy, and increasing that by 10% would add over
$100,000 in annual site rental revenue.
– The current owner has already built up the momentum story
that homes can be filled in this market. In January 2022,
approximately 69% of the homes were occupied compared
to 86% today (or an increase of 17%). The home inventory
consists of mainly newer models with 47 (of the 63) built
in 2020.
– The community offers its residents a clubhouse, paved
roads, off-street parking, and on-site management.