1723 S Van Dyke Road, Bad Axe, Michigan
$375,000
1,000
Square feet
23.45
Acres
About 1723 S Van Dyke Road
Bad Axe 27 mobile homes total, including the site manager’s home. $300,000 Below Appraised Value |27-Unit Residential Income Portfolio | Offered at $375.000, This stabilized residential income portfolio comprises 27 single-mobile home residences on 23 AC properties. Running at 80% occupancy under continuous professional management, the portfolio generates $4000 in gross monthly rents — $4800 annually. At a standard 30% expense ratio, estimated NOI lands at approximately $30000, placing this offering at an 8.0% cap rate on the ask price not including the vacancy. To put that in perspective: you’re buying a sub-9-cap asset for a 10-cap price.
Features of 1723 S Van Dyke Road
| MLS® # | 20261038882 |
|---|---|
| Price | $375,000 |
| Bathrooms | 0.00 |
| Square Footage | 1,000 |
| Acres | 23.45 |
| Year Built | 9999 |
| Type | Commercial Sale |
| Sub-Type | Business and Real Estate |
| Status | Active |
Community Information
| Address | 1723 S Van Dyke Road |
|---|---|
| Area | 32171 - Colfax Twp |
| City | Bad Axe |
| County | Huron |
| State | Michigan |
| Zip Code | 48413 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Heating | Forced Air, Natural Gas |
|---|---|
| Fireplace | No |
Exterior
| Construction | Other |
|---|
School Information
| District | Bad Axe |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Real Estate One-Troy |
|---|---|
| Contact Info | JACKBUTRIS@HOTMAIL.COM |