Contact Information

Mobile Home Park Details

  • Price: $4,500,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Property ID: 1300904
  • Posted On: Aug 5, 2020
  • Updated On: Aug 5, 2020

Property 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 %
Debt Info

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 84

Video

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