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Address is 1500 East Fuson Road Muncie, IN 47302

Jonathon Mcclellan

Marcus & Millichap

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Countryside Estates

Mobile Home Park for Sale in Muncie, Indiana

1500 East Fuson Road
Muncie, IN 47302

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Mobile Home Park for Sale

Number of MH Lots: 244
Size: 60 acre(s)
Purchase Method: New Loan
Status: Sold
Property ID: 72705
Posted on: Jun 20, 2011
Updated on: Jan 19, 2012

Property Description

Marcus & Millichap is proud to present Countryside Estates, a newer Manufactured Housing Community constructed in the late 1990's, located only miles east of Interstate 69 in Muncie, Indiana for sale. The community is situated just south of Ball State University, which currently enrolls over 20,000 students and employs roughly 3500 people, the community also backs up directly to a WalMart Supercenter. Countryside Estates was built in two phases, the first being completed in 1996, with the second completed in 1999. Boasting concrete roads, newer homes throughout (the vast majority of which being double wide homes), Countryside Estates is truly a one of a kind community. All utilities (water and sewer (by the public municipality), electric, gas and trash) are direct billed to the tenants of Countryside Estates. Countryside Estates offers an investor a wonderful opportunity to walk in and own a well located, immaculate community with the upside potential of completing the development out to the 244 sites the park is currently licensed for.

Park Information

Number of MH Lots:244
Total Occupancy:30.0%
Year Built:1996
Average MH Lot Rent: $255
Size:60.0 acre(s)

Financial Information

Gross Income$223,898
Operating Expense$69,867
Net Operating Income$154,031
Expense Ratio 31.2%
Debt Info

Lot Information

Doublewide Lots:200

Utility Information

Water:City
Water Paid By: Tenant - Individual Service
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:2