Macomb, IL MHC

1002 Lakewood Drive ,
Macomb, IL 61455

 

$425,000
Price
1.97
GRM
$10,625
Price Per Unit
40
Number of Units
35.16%
Cap Rate
1971
Year Built
$425,000
Price
1.97
GRM
$10,625
Price Per Unit
40
Number of Units
35.16%
Cap Rate
1971
Year Built

Investment Overview

  • This investment offers a new owner the ability to redevelop an A class, double wide Manufactured Housing Community. There are currently 40 double wide homes on site, likely all in need of removal.
  • The property features large common area concrete streets, sidewalks throughout the property, as well as street lights for the common area sidewalks.
  • The property is located at the southern edge of the city, offering a quiet setting that would lend itself well to 55+ housing, or an upper tier all age community.
  • The property is 13.6 acres m/l offering further potential for site count, if a new owner would prefer a larger single wide community.

Utilities and Infrastructure

  • All utilities are public, and are believed to be direct billed to residents. The property has been vacant for approximately 3 years, so the condition of the main lines are unknown.
  • Contact Broker for Additional Details

Due Diligence Disclosure

  • Current ownership purchased this property through a foreclosure sale, due diligence materials will be limited to publicly available information and buyer’s own due diligence.
  • Contact Broker for Additional Details.

Macomb, IL

  • Macomb is a prominent metro in western Illinois with a resident population of 15,000, and serving as the County seat of McDonough County. Macomb is surrounded by several commuter towns with limited housing, creating a further demand for affordable housing in the area.
FOR MORE DETAILS CONTACT
Jason Bergan
Broker
(563) 880-9679
jbergan@c21sre.com
S65228000 (IA)