Asset Details

Water: municipal

Sewer: municipal

W/S Billing Method: sub-metered

Electric Billing Method: sub-metered

NOI at Purchase: $95,139

Expected NOI Year 5: $128,023

Family Median Income: $48,357

Income Per Capita: $20,542

Population: 195,097 (as of 2016)

Average 2 BR: $836

Average 3 BR: $1,174

Median Home Price: $115,200



  • Located in Grand Rapids, one of the fastest growing cities in the US
  • Skilled, hardworking on-site manager and maintenance manager
  • No crime issues within the park
  • City has no plans to allow anymore MHC’s to be built within their limits
  • Electrical and plumbing infrastructure in great shape, especially considering age of the community

Pro Forma

There can be no assurance that the actual results or developments anticipated will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Fund (as defined below) or its operations. There can be no assurance that the Fund will achieve its target returns or avoid losses, including loss of principal.

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