2856 W Carelton Road

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Address: 2856 W Carleton Rd, Hillsdale, MI 49242, USA

Chicago & Midwest + Apartment Buildings

Created date: June 4, 2024

Date last updated: September 3, 2024

282 Sites – 92% Economic Occupancy - All properties serviced by city water and sewer
Hillsdale, Breckenridge & Alma - $6,369,000 Assumable Agency financing fixed at 5.62%
Hillsdale, Alma, & Saginaw are submetered with new Metron meters. Breckenridge is direct billed.
Strong preference will be given to portfolio offers, but individual offers on Saginaw will be considered.

Property Description

Sunstone is pleased to announce the sale of a portfolio of four all-age communities, totaling 282 sites, located in central and eastern Michigan. The portfolio includes Hillsdale (Hillsdale, MI) with 100 sites at 92% occupancy; Saginaw (Saginaw, MI) with 92 sites at 86% occupancy; Breckenridge (Breckenridge, MI) with 46 sites at 100% occupancy; and Alma (Alma, MI) with 44 sites at 93% occupancy. Seller will fill the current 13 vacant homes through closing and is open to a master lease of up to 6 months of lot rent on any remaining inventory. Preference will be given to offers for the entire portfolio, but individual offers on Saginaw will also be considered. Alma, Breckenridge, and Hillsdale have an assumable, cross collateralized, agency loan of $6,369,000 fixed at 5.62%. The loan has 9 years remaining and IO. Saginaw will be delivered free and clear of debt.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$13,960,000
No. of Units:	282
Lot Size:	1.00 Sq ft
Opportunity Zone:	No
Price per unit:	$49,504
Property Website	Click Here