Contact Information

Mobile Home Park Details

  • Price: $3,147,000
  • Property ID: 1080929
  • Posted on May 13, 2019

Property Description

Sunstone is pleased to offer for sale Bon Air MHC, an all-age community located in Kokomo, IN. With an MSA Population of 101,541, Kokomo boasts a low unemployment rate of 3.2%. This 94-space community currently is 79% occupied, allowing the new owner to enjoy the stability while still having the ability to add value by filling lots. There are 12 recently installed Champion 2017 and 2018 homes. The buyer can assume the 21st liability, or have the homes delivered free and clear if they choose to pay off the balance which is approximately $384,000. The existing Fannie Mae loan would need to be assumed at a 1% fee. The loan is $1.96M at 4.89%, 2 year interest only (ends May 2021), 10 year fixed-rate, and 30 year amortization.

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Park Information

Number of MH Lots: 94
Total Occupancy: 79.0 %
Average MH Lot Rent: $310

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