Contact Information

Mobile Home Park Details

  • Price: $350,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1393821
  • Posted On: Feb 15, 2021
  • Updated On: Feb 15, 2021

Property Description

Monticello, Indiana - Commercial Mobile Home Park for sale - Great Investment Close to Indiana Beach - 10 Acres - 1193 Hanawalt Rd Monticello, IN - Tremendous investment opportunity in Monticello, Indiana- home of Indiana Beach. This 10 acre lot is made up of 5.6 acres commercial and the rest residential. Located at 1193 HANAWALT RD, MONTICELLO, IN, 47960 just on the western edge of town and a quarter mile from Highway 24. The current business is set up as a mobile home park and has the opportunity for so much more! The park is licensed for 33 registered lots. The park is set up with 13 lots in the front, 4 currently vacant, and 20 lots in the back open (24 total lots still open). The owners currently own 3 of the homes in the park being rented. The back southwest corner can easily be made into a home lot, and with rentals being hard to find in the area, this is a great opportunity. Current tenants are loyal and pay on time. There is the option of expanding the mobile home sites, or with Indiana Beach within 10 minutes, a buyer could do RV space rental, camp ground, RV/mobile home Airbnb, buy mobile homes and sell to renters on contract, and so much more. There is year round profit with the opportunity to expand on that or go the more summer specific income route. The northwest section that is zoned residential could be a great spot to put storage units and rent out to tenants. There is currently a storage shed with a riding lawn mower (going with sale), as well as a well building. Walmart and several gas stations and convenience stores are only a 1.5 mile drive.

Income: Gross $3,140 a month
Expenses: $570.89 a month
1. NIPSCO (electric): $189.29/month average for 2020.
2. Trash: Service with Advanced Disposal is $93.25/month.
3. Taxes: Total Real Estate and Personal Property tax = $1,547.19; $128.93/month.
4. Insurance on the park and three rental homes was $1,913.00 for the year; $159.42/month.
The water is from a private well and property has its own septic. Property is ran as self-contained as possible as far as utilities. Owner will need to obtain and maintain a license issued by the state health department. Sale would be for outright ownership and being sold As Is. This park has beautiful woods and country setting on several sides and yet is so close to town. Deer and turkeys can often be seen roaming the back side of the property. The options and opportunities are endless for this property. For more information on this great investment opportunity, call or text Ty Mills at 260-571-5232 or email tmills@mossyoakproperties.com

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Park Information

Community Type: 55 And Over
Number of MH Lots: 33
Total Occupancy: 27.0 %
Average MH Lot Rent: $250
Size: 10 acre(s)

Financial Information (Actual)

Gross Income $3,100
Operating Expense $700
Net Operating Income $2,400
Expense Ratio 22.6 %
Debt Info

Lot Information

Singlewide Lots: 33

RV Information

Number of RV Lots: 33

Utility Information

Water: Well
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $600

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