This 55+, 3 star 206 space (163 MH + 43 RV) spaces is on 20.6 acres ($195k/acre). This is a opportunity for investor to purchase large 55+ park at below market value by correcting the misdirection made by the large group of investors that purchased the park in 1991. The sales comps support a value of $6.6 million at $32,300/Space. Currently the owners are applying ALL of the parks net income towards infrastructure repairs and debt service. However, at this rate the park will not begin to see the R&M figures reduced for at least another 2-3 years.
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