Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.5%
- Listing ID: 1161550
- Posted On: Dec 5, 2019
- Updated On: Jun 16, 2020
Description
Wisely Commercial Realty is pleased to offer for sale Meadow Acres MHC located just north of North Manchester, Indiana. Meadow Acres MHC consists of 51 approved home spaces situated on 13.03 acres of land. The property is serviced by well water and a lagoon. The community is priced at a very attractive cap rate and the 23 homes included in the sale are priced at $8,700 per home. A new operator has the ability to renovate the vacant park owned homes and bring in homes and fill the vacant sites.
Community Video: https://youtu.be/K2jBtTqENjg
For additional information and to get the OM please go to www.wiselycr.com or click on the following link: OM https://www.crexi.com/properties/280182/indiana-meadow-acres-mhc?offeringMemorandum=download
Please email Adam McNeil armcneil@wiselycr.com or call 317-564-8339
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 51 |
| Total Occupancy: | 88.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 13 acre(s) |
Financial Information (Actual)
| Gross Income: | $128,538 |
| Operating Expense: | $47,802 |
| Net Operating Income: | $80,736 |
| Expense Ratio: | 37.2 % |
Lot Information
| Singlewide Lots: | 51 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
