Contact Information

Mobile Home Park Details

  • Price: $599,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.5%
  • Listing ID: 4374009
  • Posted On: Feb 1, 2024
  • Updated On: May 23, 2024

Description

VANCE VILLAGE MHC is a rare gem in Fort Wayne, Indiana! This manufactured housing community, located at 1235 Vance Avenue, offers a fantastic investment opportunity. Priced at $599,000, this property features 10 mobile home rentals and a stick-built home. The current owner has made significant improvements to the community, and now it's your chance to maximize its potential. Situated in the thriving Allen County, Vance Village MHC benefits from city water and sewer services. Residents are billed back for water, sewer, and trash, ensuring efficient management. With an impressive occupancy rate of 100%, this community promises a steady income stream. The IN-Place Cap Rate stands at 9.54%, making it an attractive investment. Don't miss the chance to own this fantastic property in a desirable neighborhood. Contact us today to learn more about this incredible investment opportunity at 1235 Vance Avenue, Fort Wayne, IN 46805!

www.wiselycr.com for more information

Offering Memorandum Link: https://www.crexi.com/properties/1418725/indiana-vance-village?offeringMemorandum=download

Community Video: https://youtu.be/Vow4-WHufuo?si=AqH-6Obs20kJux14

Location

Fort Wayne, IN

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Park Information

Number of MH Lots: 11
Total Occupancy: 100.0 %
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $96,347
Operating Expense: $39,213
Net Operating Income: $57,135
Expense Ratio: 40.7 %

Lot Information

Singlewide Lots: 11

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

Video

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