Moon Lake Estates MHC 12700 Colby Lake Rd Immeuble residentiel 93 lots À vendre Laingsburg, MI 48848

Moon Lake Estates MHC is an all-age
93-site community on approximately
29 acres of land with significant
upside potential located in the
desirable Lansing-East Lansing MSA.
The metro is home to over 540,000
people making it the third largest in
the state.
– Value-add potential to raise lot rents to market, which Owner
believes to be around $75 per month per site higher.
– Further value-add opportunity to fill sites as the property
is only 63% economically occupied. With 6 vacant
park-owned homes, a new owner can quickly increase
occupancy through rehabbing the existing inventory
and filling the already rent ready ones. There is also an
opportunity for new owner to implement a home sale
program and focus on converting renters to homeowners.
– The community has 54 park-owned homes, of which 48 are
currently occupied as pure rentals averaging $455 for the
home rent portion. The home inventory consists of mainly
newer models with 93% built between 2018 and 2020.
– The current owner has spent over $340,000 within the last
couple of years on upgrading the utilities and amenities
at the community. The community has a clubhouse and
features off-street parking and paved roads.
– Consumers Energy required the building of a new gas
pipeline across the property. This resulted in an easement
that required the permanent loss of 5 sites (sites 2, 3, 26,
62 and 85). Four sites were temporarily down but can be
used again and 4 homes were moved from the 9 total sites
affected. One of the two wells needed to be filled in for the
utility company to do the work. Another well will need to
be built but has not yet broken ground. The plans, including
location and easements are available and will be transferred
to a Buyer.
– The community has potential for RV development or MH
expansion. There is approximately 5 acres of an old RV area
that could be redeveloped.
– Of the communities in the portfolio, Moon Lake Estates is
the only property with a private water and sewer system.