Excellent Purchase Price - Invest In Mobile Homes Park
This property was purchased for just under a 15% cap rate. This is a small, straightforward park with 20 homes. So Sturgis Commons is ideal to invest in Mobile Homes Park.
The Value Add:
The park has been stabilized with quality tenants, all vacant lots have been filled, the rents have been raised to fair market value, and we have allocated our capital expenditures to bring more value to the park’s residents. On this property, we have recognized a 67% annualized increase in value (based on our NOI and current market capitalization rates).