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.
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