Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 3397523
- Posted On: Jul 19, 2023
- Updated On: Jan 15, 2024
Description
Wisely Commercial Realty is pleased to offer for sale five manufactured housing communities totaling 775 sites located in Central Indiana. Freedom Acres has 158 sites and is in Muncie, IN. Delaware Acres has 129 sites and is in Muncie, IN. Golden Pebble Estates has 149 sites and is in New Castle, IN. White Oaks has 213 sites and is in Marion, IN. Crestwood has 126 sites and is in Middletown, IN. All five communities are located within one hour of each other.
INVESTMENT HIGHLIGHTS
• Great opportunity to continue filling up the vacant sites
• Quality Park Owned Housing Inventory, 145 of the homes are less than Two years old
• Over $14,000,000 invested in homes and $4,500,000 spent on Community Cap-X since 2021
• All Five Communities are located within one hour of each other
Central Indiana MHC Portfolio Video: https://youtu.be/I1yHR8R8FmM
Offering Memorandum Link: https://www.crexi.com/properties/1184866/indiana-central-indiana-mhc-portfolio?offeringMemorandum=download
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 775 |
| Total Occupancy: | 51.1 % |
Financial Information (Actual)
| Gross Income: | $1,895,630 |
| Operating Expense: | $928,622 |
| Net Operating Income: | $967,008 |
| Expense Ratio: | 49.0 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
