Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 8.0%
  • Property ID: 1717158
  • Posted On: Jul 20, 2022
  • Updated On: Sep 7, 2022

Property Description

Wisely Commercial Realty presents Jackson Heights MHC for sale. For more information go to our website www.wiselycr.com or click on the links below.

Offering Memorandum Link: https://www.crexi.com/properties/866414/indiana-jackson-heights-mhc?offeringMemorandum=download

Due Diligence Vault Link: https://www.crexi.com/properties/866414/indiana-jackson-heights-mhc?openDueDiligence=open

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

Wisely Commercial Realty is pleased to offer for sale Jackson Heights manufactured housing community located near Scottsburg, IN. Jackson Heights is approved for 75 sites, 54 which are developed. 19 park owned homes come with the purchase, 9 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 lagoon.

INVESTMENT HIGHLIGHTS
• One of the nicest manufactured housing communities in the Scottsburg area
• 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: $1,295,000
IN-Place NOI: $103,689
IN-Place Cap Rate: 8.01%
Proforma NOI: $198,762
Proforma Cap Rate: 15.35%
Price Per Site: $17,267
Total Approved Sites: 75
Developed Sites: 54
Occupied Paying Sites: 34
Economic Occupancy: 63%
Physical Occupancy: 80%
Park Owned Homes Included: 19

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

Park Information

Community Type: All Age
Number of MH Lots: 75
Total Occupancy: 63.0 %
Year Built: 1970
Size: 40 acre(s)

Financial Information (Actual)

Gross Income $179,520
Operating Expense $75,831
Net Operating Income $103,689
Expense Ratio 42.2 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Video

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