Contact Information

Mobile Home Park Details

  • Price: $11,500,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 5.7%
  • Property ID: 1431811
  • Posted On: May 3, 2021
  • Updated On: May 3, 2021

Property Description

If you are interested in more information, please go to our website www.wiselycr.com or click on the following links:

Offering Memorandum Link: https://www.crexi.com/properties/598592/indiana-oak-creek-estates?offeringMemorandum=download

Community Video: https://youtu.be/GzeuGK86FKk

PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Oak Creek Estates MHC located in Fort Wayne, Indiana. Oak Creek Estates consists of 193 approved home spaces situated on 50 acres of land. This community has a fantastic location, a brand-new Meijer is being built to the North of Oak Creek Estates. The property is serviced by City Water and City Sewer, City Water is direct billed to the Residents. A new owner can come in and renovate the vacant park owned homes and the rent them or sell them off. The community includes 142 park owned homes.

INVESTMENT HIGHLIGHTS
• Stable Community with 76% occupancy, with opportunity to fill vacant homes
• Fantastic location near Parkview’s Hospital Campus
• Opportunity to increase cash flow by raising Lot Rent
• City Water & City Sewer

Location

Fort Wayne, IN

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 193
Total Occupancy: 76.0 %
Year Built: 1995
Size: 50 acre(s)

Financial Information (Actual)

Gross Income $1,048,356
Operating Expense $395,806
Net Operating Income $652,550
Expense Ratio 37.8 %
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 142

Video

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