Photo of Mobile Home Park
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1093254
- Posted On: Jun 12, 2019
- Updated On: Sep 11, 2019
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.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
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 % |
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 |
