Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 9.1%
- Listing ID: 569786
- Posted On: Sep 17, 2015
- Updated On: Mar 6, 2016
Description
THE SELLER WILL CONSIDER SELLING THE COMMUNITIES INDIVIDUALLY, HOWEVER MAPLEWOOD AND KINGS MUST BE SOLD TOGETHER.
Converse Mobile Home Park is an all age 45 site manufactured home community located in Converse, Indiana. The park was developed in 1965 and is situated on approximately 5.5 acres. The city water and sewer are submetered and billed back to the tenants. The tenants are direct billed for electric and or gas.
Kings Community Mobile Home Park is an all age 93 site manufactured home community located in Marion, Indiana. The park was developed in 1973 and is situated on approximately 7.622 acres. The public water and sewer are submetered and billed back to the tenant. The tenants are billed direct for electric.
Maplewood Village Mobile Home Community is an all age 112 site manufactured home community located in Marion, Indiana. The park was built in 1971 and is situated on approximately 14.406 acres. The city water and sewer is submetered and billed back to the tenants. The tenants are direct billed for electric.
Rochester Mobile Home Community is an all age 68 site manufactured home community located in Rochester, Indiana. The park was built in 1961 and is situated on approximately 19.39 acres. The city water and sewer is submetered and billed back to the tenants. The tenants are direct billed for electric.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 321 |
| Total Occupancy: | 52.0 % |
| Average MH Lot Rent: | $215 |
| Size: | 37 acre(s) |
Financial Information
| Gross Income: | $624,572 |
| Operating Expense: | $371,442 |
| Net Operating Income: | $253,130 |
| Expense Ratio: | 59.5 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
