Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 1612904
  • Posted On: Feb 26, 2022
  • Updated On: Jul 20, 2022

Property Description

Wisely Commercial Realty Presents the Indianapolis MHC Portfolio. For more information go to www.wiselycr.com or click on the links below.

Offering Memorandum Link: https://www.crexi.com/properties/765517/indiana-indianapolis-mhc-portfolio?offeringMemorandum=download

Due Diligence Vault Link: https://www.crexi.com/properties/765517/indiana-indianapolis-mhc-portfolio?openDueDiligence=open

Communities Video: https://youtu.be/JSMPNdnaZ3U

PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale three manufactured housing communities located near Indianapolis, IN. Tall Timbers has 50 sites and is in Noblesville, IN; water is provided by a well and sewer is a waste treatment plant. Jackson Heights has 75 sites and is in Scottsburg, IN; water is provided by the City, the sewer is a lagoon. Ruby Hills has 40 sites and is in Martinsville, IN; water is provided by the City, the sewer is a waste treatment plant. These three communities provide a Buyer scale in the Indianapolis market.

The three communities that make up the Indianapolis portfolio are now being offered individually. We are accepting offers on individual communities or as a portfolio.

Tall Timbers has had the occupancy increase from 54% to 76% in the past couple months due to tenants relocating their homes into the community. The Annual Income has increased from $177K to $242K. The updated July rent roll is available in the DD Vault.

INVESTMENT HIGHLIGHTS
• Tall Timbers is in Hamilton County, the most desired County in Indiana
• Opportunity to occupy the vacant homes and bring in homes and fill the vacant sites
• Seller Financing Available for Qualified Buyers
• Value-Add Opportunity

OFFERING SUMMARY
List Price: TBD
IN-Place NOI: $200,337
Proforma NOI: $378,435
Total Approved Sites: 165
Developed Sites: 144
Occupied Paying Sites: 90
Economic Occupancy: 62.5%
Physical Occupancy: 87.5%
Park Owned Homes Included: 80

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

Park Information

Community Type: All Age
Number of MH Lots: 165
Total Occupancy: 65.0 %
Size: 60 acre(s)

Financial Information (Actual)

Gross Income $490,000
Operating Expense $289,000
Net Operating Income $200,000
Expense Ratio 59.0 %
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Video

Other Listings by Adam Mcneil See More

Similar Mobile Home Parks for Sale