Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.5%
  • Property ID: 1161550
  • Posted On: Dec 5, 2019
  • Updated On: Jun 16, 2020

Property Description

Wisely Commercial Realty is pleased to offer for sale Meadow Acres MHC located just north of North Manchester, Indiana. Meadow Acres MHC consists of 51 approved home spaces situated on 13.03 acres of land. The property is serviced by well water and a lagoon. The community is priced at a very attractive cap rate and the 23 homes included in the sale are priced at $8,700 per home. A new operator has the ability to renovate the vacant park owned homes and bring in homes and fill the vacant sites.

Community Video: https://youtu.be/K2jBtTqENjg

For additional information and to get the OM please go to www.wiselycr.com or click on the following link: OM https://www.crexi.com/properties/280182/indiana-meadow-acres-mhc?offeringMemorandum=download

Please email Adam McNeil armcneil@wiselycr.com or call 317-564-8339

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

Park Information

Community Type: All Age
Number of MH Lots: 51
Total Occupancy: 88.0 %
Average MH Lot Rent: $250
Size: 13 acre(s)

Financial Information (Actual)

Gross Income $128,538
Operating Expense $47,802
Net Operating Income $80,736
Expense Ratio 37.2 %
Debt Info

Lot Information

Singlewide Lots: 51

Utility Information

Water: Well
Water Paid By: Park

Park-Owned Homes

Number of Park-owned Homes: 23

Video

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