Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.0%
- Listing ID: 1300904
- Posted On: Aug 5, 2020
- Updated On: Jan 4, 2021
Description
OFFERING MEMORANDUM LINK: https://www.crexi.com/properties/434980/indiana-indianapolis-mhc-portfolio?offeringMemorandum=download
Madison Community Video: https://youtu.be/1hGBkNb884k
Harrison Community Video: https://youtu.be/BLYAKfK9bmY
Wisely Commercial Realty is pleased to offer for sale two manufactured housing communities located in Indianapolis, Indiana. Harrison MHC has 90 sites and is 86.7% occupied and Madison MHC has 69 sites and is 88.4% occupied. The communities are located 14 miles from each other providing a new operator operating efficiency between the two communities. Both communities have city water and city sewer. Both communities are being sold as a portfolio.
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Park Information
| Number of MH Lots: | 159 |
| Total Occupancy: | 87.0 % |
Financial Information (Actual)
| Gross Income: | $749,181 |
| Operating Expense: | $381,562 |
| Net Operating Income: | $367,619 |
| Expense Ratio: | 50.9 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
