Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.2%
- Listing ID: 1014536
- Posted On: Dec 10, 2018
- Updated On: Mar 14, 2019
Description
Wisely Commercial Realty is pleased to offer for sale Greenwood MHC located in Union City, Indiana. Greenwood consists of 116 approved home spaces situated on 24 acres of land. The property is serviced by city water and a city sewer which is also direct billed to the residents, this is a huge benefit which cuts down on the operating expenses. This community provides a new operator the opportunity to bring in homes and increase occupancy. The streets within the community are maintained by the city which includes snow removal.
For additional information please go to Crexi and complete the CA.
https://www.crexi.com/properties/175778/indiana-greenwood-mhc?openDueDiligence=open
https://www.crexi.com/properties/175778/indiana-greenwood-mhc?offeringMemorandum=download
Location
Union City is located in the northeastern portion of the State of Indiana and it adjoins the State of Ohio to the East. Union City is located approximately 90 miles northeast of Indianapolis, 34 miles north of Richmond and 42 miles east of Muncie.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 116 |
| Total Occupancy: | 68.0 % |
| Average MH Lot Rent: | $230 |
| Size: | 24 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $214,479 |
| Operating Expense: | $52,010 |
| Net Operating Income: | $162,469 |
| Expense Ratio: | 24.2 % |
Lot Information
| Singlewide Lots: | 116 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
