Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 25.0%
  • Property ID: 1253449
  • Posted On: May 8, 2020
  • Updated On: Jul 6, 2020

Property Description

Smaller park (21 Lots + 1 SFH) with great cash flow potential. Purchased 1 year ago as a turnaround park, made some good progress but we need to liquidate ASAP due to personal reasons. Pick up where we left off and have a great recession proof asset.

Located in Monticello, IN the County Seat of White County. Suburb of the Lafayette MSA. Diverse economy containing agriculture, tourism, manufacturing, etc... Huge demand for affordable housing.

Already on City Water and City Sewer. Master metered with submeters installed and bill back to tenants.

Huge summer vacation and spring/fall hunting/fishing area with potential to convert vacant pads to RV lots if desired.

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

Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 32.0 %
Year Built: 1976
Average MH Lot Rent: $285
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income $129,420
Operating Expense $51,524
Net Operating Income $77,896
Expense Ratio 39.8 %
Debt Info

Lot Information

Singlewide Lots: 21
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 11
Average Rent for Park-owned Homes: $550

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