Contact Information

Mobile Home Park Details

  • Price: $1,850,000
  • Cap Rate: 9.2%
  • Property ID: 1093964
  • Posted on Jun 14, 2019

Property Description

**Please visit www.OtherStreetAdvisors.com to get more information on this property and access to the document vault**

JDS Real Estate Services Inc. and Other Street Advisors are proud to bring Bristol Mobile Village to the market. Bristol Mobile Village is located in Bristol, Indiana which is a small pleasant town inside of Elkhart County, Indiana.
Elkhart County is part of the Elkhart-Goshen Metropolitan Statistical Area, which in turn is part of the South Bend-Elkhart-Mishawaka Combined Statistical Area. The area is referred to by locals as the recreation vehicle (RV) capital of the world and is known for its sizable Amish and Old Order Mennonite population.

The current owner has enjoyed this cash flowing asset for years, with minimal oversight. With some minor capital improvements to this property, and bringing the few vacant homes back on line, the property will keep cash flowing for years to come.

The current demand in this market is high, with no issues finding tenants as needed.

Location

• 71 Pads and 4 Apts - 2 star MH Community

• Family Park

• 84.6% Occupied

• Upside in Rents

• Upside in Occupancy

• Strong MSA with over 200k people

• Stable Strong Cash Flow for the owner with minimal oversight

• Current Cap Rate 9.21%

• Resident Owned Homes = 23

• Park Owned Occupied Homes = 39

• Park Owned Vacant Homes = 5

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 71
Total Occupancy: 84.6 %
Average MH Lot Rent: $350

Financial Information (Actual)

Gross Income $388,189
Operating Expense $217,894
Net Operating Income $170,295
Expense Ratio 56.1 %
Debt Info

Lot Information

Singlewide Lots: 71

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 43
Average Rent for Park-owned Homes: $568

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