Mobile Home Park Details

  • Property ID: 1093254
  • Posted On: Jun 12, 2019
  • Updated On: Sep 11, 2019

Property Description

PRICE REDUCED - This is stabilized 20 space park in Muncie Indiana that has been well maintained.

It is 100% occupied. The NOI (Net Operating Income) for just the park lot income for 2018 was $36,451.

There are 6 park owned homes of which 5 are on rent credit program and the last one is in the process of being rehabbed. The annual income from the 5 park owned homes is $32,400. The total value of the rent credit contracts is $73,575.

The lot rent at the park is below market $20-$30. It is on city water / sewer that is billed back to the tenants. The road is in above average condition. The trees have also recently been trimmed.

Price includes all park owned homes. All offers will be considered.

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Park Information

Community Type: All Age
Number of MH Lots: 20
Total Occupancy: 100.0 %
Average MH Lot Rent: $255

Financial Information (Actual)

Gross Income $69,104
Operating Expense $32,652
Net Operating Income $36,451
Expense Ratio 47.3 %
Debt Info

Lot Information

Singlewide Lots: 20

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $550

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