Spencer Square MHP is a quaint little community in Spencer, IN. The park is comprised of twelve pads and one single family residence. The total size of the park is just under one acre. The park is zoning compliant and is not located within a flood zone. The park is currently managed by an out-of-state investor, but he believes there are a couple of tenants who might make a capable manager/greeter for the next ownership group if desired. All of the pads are currently occupied with trailers. Ten out of the twelve trailers are being sold on RTO contracts, two of the trailers are vacant and ready for rehab, and the single family residence is also rented. Two POH's are vacant and are ready to be renovated. The last pad rental increase was in March of 2020. The current pad rental rate is $400/pad. The park also charges $75/month for water & sewer. Tenants pay for their own electric, gas, & garbage removal. Each tenant has signed a monthly lease for the lot rent, in addition to the RTO contract. All of the tenants are current on their rent. The current value of the RTO contracts is approximately $123,500.

City water & city sewer!!! No roads to maintain!!! Not only do we have a park that is bringing in a large amount of cashflow, you also have a park on city utilities! The park is surrounded by city roads so the city maintains the roads around the perimeter. This is an extremely low cost, low maintenance park. The underground pipes in the park are comprised of steel and upgraded PVC. Each of the electrical pedestals have 200 amp service. The electric and gas are direct billed to the tenant from the service provider. The tenants are responsible for mowing their own space. There is no expense for snow removal as the streets are plowed by the city.

The current ownership group has completely turned this little park around. They completed major renovations on nine of the trailers in the park and then sold them on RTO contracts. The previous ownership group upgraded the water system as they were excavators by trade. When asked what improvements they would continue to make if they were to own the park going forward:

1. Rehab the remaining two POH and sell them on RTO contracts.
2. Add a sign for the community

This is a great park for a smaller or beginner investor. It checks all of the boxes.