Four Leaf Properties Expands Michigan Manufactured Housing Community - Multifamily Real Estate News

2022-06-16 09:55:19 By : Mr. bendy huang

Nearly three years after acquiring Meadowstone, a mobile home park in Hastings, Mich., Four Leaf Properties has expanded the community with the addition of 34 factory-built homes. Developed by Clayton Homes Factory Direct, the three- and four-bedroom homes are available for immediate occupancy, with monthly payments starting at $1,165. The homes are energy-efficient, ranging in size between 1,012 square feet and 1,568 square feet.

Built in 1999, Meadowstone is located at 1812 Lavender Drive, roughly 2 miles from downtown Hastings and 13 miles from Yankee Springs State Recreation Area, a state-managed protected area in Yankee Springs Township in Barry County, Mich. Grand Rapids is situated roughly 40 miles northwest from the community. 

Meadowstone counted 142 lots in mid-2018, when Four Leaf Properties acquired the asset. Since then, the community expanded over phases to offer 231 homes—including the 34 recent additions, which are part of the third and final phase—and now also features a new clubhouse, dog park, storage facility, playground and on-site professional management.

According to a recent NorthMarq report, Michigan saw the addition of 3,500 new manufactured housing units in 2020. On a year-over-year basis, average rents for manufactured homes in Michigan rose 3.5 percent to $441 per month, significantly below the national average of $568 per month.

The latest multifamily news, delivered every morning.

Like what you're reading? Subscribe for free. Subscribe

You must be logged in to post a comment.