Contact Information

Jon Fisher

License: 471.020503 (IL) 18000549 (IN) 117228 (SC)

Mobile Home Park Details

  • Price: $449,000
  • Property ID: 1521346
  • Posted On: Sep 25, 2021
  • Updated On: Oct 7, 2021

Property Description

Zimovia Trade MHP is an 33-pad mobile home community located on 2.33 acres in Rockport, IN. The park was developed in the early 1980's and has served the community by offering an affordable housing option since that time. The property zoning is unknown by the seller but they believe it to be "light industrial". The park is not located in a flood zone. The park is presently self-managed by owners who split time between the park and two other states. They are utilizing a tenant on site for some light administrative tasks and smaller maintenance issues. The owners believe that they have potential managers/maintenance men who live in the park if you wanted to self manage remotely.

As I mentioned above the park has 33-pads at the present time. There are four additional PIN's that are on the west side of this property that an additional 6-pads could be placed with minor groundwork. The pad sizes vary. One side has pads that are approximately 29' x 100', the other side is approximately 29' x 50'-55'. 17 out of the 33 pads are currently occupied. 14 out of the 17 pads are TOH, the remaining 3 trailers are on RTO contracts. Pad rates are way below market rate and are currently at $185/month it was $125/month when the owners purchased it last year). If they were to continue to own the park they would raise it to $220/month next year. There is one tenant behind in their rent. No trailers need to be removed. The park utilizes month-to-month leases.

CITY WATER & CITY SEWER! The underground pipe material in the park is PVC for water, and clay for sewer. The electrical pedestals are at least 100 amp, and several have been upgraded to 200 amp. Residents are direct billed for water, electricity, & gas by the utility providers (only 1/2 of the park has gas currently). Tenants pay for their own garbage. The road through the park is a combination of gravel & concrete and is in good condition. The tenants mow their own pads and the park mows the common areas. The park would assist with pushing snow if needed. The tenants have off-street parking adjacent to their trailers.

Since the current ownership group purchased the park, they have made a number of improvements to the property:

1. Overhauled the road by having the pot holes removed and rolled
the road back out.
2. Cut down excessive vegetation
3. Moved in one trailer and sold it on a RTO contract
4. Converted two POH into RTO's.
5. Raised the pad rental rate from $125 to $185 (still under market rent).

When asked what improvements they would make to the park if they continued to own it going forward:

1. Continued infill of the park.
2. Potential POH additional to the park (large number of inquiries rn rentals).
3. Develop the six additional pads on the west portion of the property.
4. Possibly run new water lines so that they are outside of each trailer (and not underneath).
5. Cut down the trees in lot 7 & lot 5.
6. Work on the drainage on the north side of park. Puddles after big rains but drains quickly.
7. Take out the mailboxes by each trailer and have a dedicated mail spot with boxes that lock.

Location

Rockport is a city in Ohio Township, Spencer County, Indiana, along the Ohio River. The population was 2,270 at the 2010 census. There are 47,000 residents within a five mile radius of Rockport. Rockport was once the largest community in Spencer County, the city has recently been surpassed by the town of Santa Claus (known for its amusement/water park). The city is the county seat of Spencer County. Rockport is also the southernmost city in the state, located slightly south of Evansville (just across from Owensboro, KY). Florence Henderson (Mrs. Brady from The Brady Bunch) is perhaps the most well known celebrity to grow up in Rockport. Rockport in 10 miles from Owensboro, KY, 32 miles from Evansville, IN, and 95 miles from Louisville, KY. State Routes 231 & 66 both service Rockport.

Owensboro is in and is the county seat of Daviess County, Kentucky, United States. It is the fourth-largest city in the state by population. Owensboro is located on U.S. Route 60 and Interstate 165 about 107 miles southwest of Louisville, and is the principal city of the Owensboro metropolitan area. The Owensboro Metropolitan Statistical Area has an estimated population of 110,000 residents.

Evansville is a city in and the county seat of Vanderburgh County, Indiana. The population was 117,429 at the 2010 census, making it the state's third-most populous city after Indianapolis and Fort Wayne, the largest city in Southern Indiana, and the 232nd-most populous city in the United States. It is the central city of the Evansville metropolitan area, a hub of commercial, medical, and cultural activity of Southwestern Indiana and the Illinois–Indiana–Kentucky tri-state area, that is home to over 911,000 residents.

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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 44.0 %
Year Built: 1980
Average MH Lot Rent: $185
Size: 2 acre(s)

Lot Information

Singlewide Lots: 32
Doublewide Lots: 1
Triplewide Lots: 0
Park Model Lots: 0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0

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