Updated May 16, 2025
Marcus & Millichap Brokers $9.7M Sale Of Port Of Call Manufactured Housing Community In Port Huron
4125 Dove Road
$9,700,000
Building Size
—
Asset Type
Manufactured Home
Closing
May 15, 2025
About this deal
AI
The property asset involved in this transaction is a manufactured home community located at 4125 Dove Road in Port Huron, MI. The community consists of 146 homesites and boasts a notable occupancy rate of 98%. The total sale price for this asset was $9,700,000.
Summary of transaction details:
- Property Type: Manufactured Home
- Transaction Amount: $9,700,000
- Address: 4125 Dove Road
- Market: Port Huron, MI
- Occupancy Rate: 98%
- Homesites: 146
- Broker: Chase Gilewski - Marcus & Millichap
- Mortgage Broker: Luke Lamoreaux - Marcus & Millichap Capital Corp
- Acquisition Financing Arranged: $7,200,000
The transaction was brokered by Marcus & Millichap, where Chase Gilewski represented both the seller and the buyer. Additionally, Luke Lamoreaux was instrumental in arranging the acquisition financing for the deal.
On the Map
$9,700,000
Manufactured Home
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Players
Port Huron Manufactured Home Market Snapshot
Boundary boundary · Manufactured Home · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93