Contact Information

Mobile Home Park Details

  • Price: $1,280,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.9%
  • Property ID: 1507672
  • Posted On: Sep 2, 2021
  • Updated On: Oct 13, 2021

Property Description

For more information please go to www.wiselycr.com for a link to the OM and video of the community.

Community Video: https://youtu.be/rW9FYmz42ys

Offering Memorandum Link: https://www.crexi.com/properties/666644/indiana-rhoades-mhc?offeringMemorandum=download

PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Rhoades MHC located in Wabash, Indiana. Rhoades MHC consists of 32 approved home spaces situated on 16.5 acres of land. The property is serviced by a well for water and a mound system for the sewer. Because the community is on private utilities it allows the expense ratio to be lower than normal. 19 park owned homes are included in the sale. Strong demand for housing in the area. This is a quality stable community that would be great for a newer operator looking to get into the business.

INVESTMENT HIGHLIGHTS
• Stable Community with 97% occupancy
• Opportunity to increase lot rents, current lot rent is $275 which includes Water & Sewer
• Well maintained community
• 19 park owned homes included in the sale

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

Park Information

Number of MH Lots: 32
Total Occupancy: 97.0 %
Average MH Lot Rent: $275
Size: 17 acre(s)

Financial Information (Actual)

Gross Income $158,574
Operating Expense $31,623
Net Operating Income $126,951
Expense Ratio 19.9 %
Debt Info

Lot Information

Singlewide Lots: 32

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 19

Video

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