Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 6.1%
- Listing ID: 2058708
- Posted On: Feb 21, 2023
- Updated On: Nov 13, 2023
Description
For More information go to www.wiselycr.com or click on the links below.
Offering Memorandum Link: https://www.crexi.com/properties/1050533/indiana-converse-mhc?offeringMemorandum=download
Due Diligence Vault Link: https://www.crexi.com/properties/1050533/indiana-converse-mhc?openDueDiligence=open
Community Video: https://youtu.be/JusyGf232Lo
Wisely Commercial Realty is pleased to offer for sale Converse manufactured housing community located in Converse, Indiana. Converse consists of 45 home spaces situated on 4.5 acres of land. Residents enjoy spacious lots, city utilities and individual trash containers. The property is serviced by municipal water and sewer, water is sub metered and billed back to the residents. Included in the sale is six 2021 Adventure mobile homes.
Community Price: $450,000
Homes Price: $300,000
Total Price: $750,000
Community NOI: $27,283
In-Place Cap Rate: 6.1%
Proforma Cap Rate: 10.2%
Price Per Site: $16,667
Total Sites: 45
Occupied Sites: 12
Occupancy: 27%
Total Park Owned Homes: 12
Land Size: 4.5 Acres
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 45 |
| Total Occupancy: | 27.0 % |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $58,166 |
| Operating Expense: | $30,883 |
| Net Operating Income: | $27,283 |
| Expense Ratio: | 53.1 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
