Mobile Home Park Details

  • Purchase Method: Assumable Loan
  • Listing ID: 1924083
  • Posted On: Jan 23, 2024
  • Updated On: Apr 12, 2024


These are two parks within a mile of each other in Peru, IN.

1) Hi & Dri Court - 501 W 10th St, Peru IN 46970 - 41 units
2) Park Ave Court - 23 S. Park Ave, Peru IN 46970 - 14 units

Every lot is on city water and city sewer.

Here is the updated rent roll:

The parks include several single family homes and also a two-unit apartment building.

The parks are low occupancy at 20% and in need of a turnaround. Any buyer should be equipped with capex and manpower to do what's necessary to turn them around.

There is a separate bank loan on each of these parks. They total to approx $295K. Additionally there is a $34K cash payoff needed to go to me. Lastly there is $43K owed in fines and liens to the city. That totals to approx $370K in total liabilities. An approved buyer will need to assume these loans, which shouldn't be a problem at all for a credit-worthy buyer. THE MAIN THING TO DO FOR AN INTERESTED PARTY IS TO CONTACT THE BANK. HERE IS BANK CONTACT:

Chris Ousley
VP, Commercial/Ag Lender
First Farmers Bank & Trust
120 S Broadway
Peru, IN 46970
765-472-2700 x0522
765-327-4241 (Direct Line)

The new buyer will have to absorb back taxes and some liens on the parks. The total I have been told is $43K and that was the number given to me by the bank that holds the financing on these parks.

LASTLY, we also own two larger parks in this same city. So we own 4 parks in total - all in Peru, IN and within two miles of each other.

The larger two are owned with a partner so I cannot list them for sale yet. These two parks are also distressed and in need of a turnaround. They might be available to the right buyer who has the resources and experience to take on this 169 unit package. The addresses are:

1) Bourne End Mobile Home Park - 3 Wycombe Dr, Peru IN 46970 - 66 units

2) Sherwood Mobile Home Park - 906 W Main St, Peru IN 46970 - 48 units


Peru, IN


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

Park Information

Community Type: All Age
Number of MH Lots: 50
Total Occupancy: 20.0 %
Year Built: 1970
Average MH Lot Rent: $300
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $48,514
Operating Expense: $36,532
Net Operating Income: $11,982
Expense Ratio: 75.3 %

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $200