Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 9.5%
- Listing ID: 1349030
- Posted On: Nov 1, 2020
- Updated On: Jan 31, 2021
Description
Unit mix
40 spaces-32 are occupied
3 APTS- All rented located at the front of the park
1 SFH VACANT NEEDS REHAB
$350 CURRENT LOT RENT
Mobile Home Park is an all-age community located 30 miles southeast of Chicago in Gary, Indiana and is minutes from retail, restaurants and a public schools
The property is serviced by city water and sewer which is
sub metered and billed back to the residents. Trash is billed to tenants.
2 LTO's and 4 rental homes are included in the sale price.
There are 3 Apts that are rented along with a single family home that is vacant.
All utilities are paid by tenants
SELLER WILL CONSIDER FINANCING WITH 50% DOWN
THIS IS A CONFIDENTIAL LISTING*
REDUCED TO 1.25M
Location
Located 25 minutes from Chicago metro.
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 40 |
| Total Occupancy: | 85.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $350 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $180 |
| Operating Expense: | $71 |
| Net Operating Income: | $109 |
| Expense Ratio: | 39.4 % |
| Debt Info: | NO ASSUMABLE DEPT |
Lot Information
| Singlewide Lots: | 40 |
| Park Model Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 4 |
| Average Rent for Park-owned Homes: | $700 |