Contact Information

Mobile Home Park Details

  • Price: $995,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 9.1%
  • Property ID: 1717157
  • Posted On: Jul 20, 2022
  • Updated On: Sep 14, 2022

Property Description

Wisely Commercial Realty presents Ruby Hills MHC for sale. For more information go to our website or click on the links below.

Offering Memorandum Link:

Due Diligence Vault Link:

Communities Video:

Wisely Commercial Realty is pleased to offer for sale Ruby Hills manufactured housing community located near Martinsville, IN. Ruby Hills is approved for 40 sites. 23 park owned homes come with the purchase, 10 which are vacant providing a new owner the opportunity to renovate and rent out the homes. The park is supplied with City water, the sewer is a private waste treatment plant.

• The community has a great location just West of town on top of the hill
• Opportunity to occupy the vacant homes and bring in homes and fill the vacant sites
• Seller Financing Available for Qualified Buyers
• Value-Add Opportunity

List Price: $995,000
IN-Place NOI: $90,009
In-Place Cap Rate: 9.05%
Proforma NOI: $122,419
Proforma Cap Rate: 12.30%
Price Per Site: $24,875
Total Approved Sites: 40
Occupied Paying Sites: 30
Economic Occupancy: 75%
Physical Occupancy: 92.5%
Park Owned Homes Included: 23

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

Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 75.0 %
Size: 14 acre(s)

Financial Information (Actual)

Gross Income $192,512
Operating Expense $102,503
Net Operating Income $90,009
Expense Ratio 53.2 %
Debt Info

Utility Information

Water: City
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 23


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