FLINT TOWNSHIP, MICHIGAN
4152 Corunna Road, Flint Township, MI 48532
AVERAGE SITE RENT
T-12 NOI (Jul'17-Jun'18)
PRO FORMA NOI
REAL ESTATE PRICE
Opportunity to Acquire 84 Sites Located in Michigan
Public Water and Sewer that is Sub-metered
Population Greater than 400,000 Within a 15 Mile Radius
Average Market Rents
Request Property Information
Broker of Record - Detroit
Marcus & Millichap is pleased to present the opportunity to acquire a manufactured housing community located in Flint Township, Michigan. Valley Meadows is an all age community situated on approximately 9 acres. The community conisists of 84 sites with public water and sewer that is sub-metered.
Valley Meadows located at 4152 Corunna Road, Flint Township, MI has an average rent of $400 per month. With a 73 percent occupancy rate, a new investor can benefit from stabilized inplace income with the opportunity to implement an aggressive home sales or rental program. The community provides its tenants with an ideal location near Home Depot, Walmart and Sams Club, as well as other shopping centers and restaurants.
The community is being offered for a total price of $2,100,000 with $1,750,000 allocated to the real estate and $350,000 allocated to the park owned homes. At the current asking price on the real estate, a new investor can assume a 9.50% Year 1 Cap Rate.