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Address is 10039 County Road 4 Middlebury, IN 46540

Pete Peterson

Stratton Group

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Tall Oaks Mobile Home Park

Manufactured Home Community for Sale in Middlebury, Indiana

10039 County Road 4
Middlebury, IN 46540

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Sale Price: $450,000
 

Contact Information

Pete Peterson
Stratton Group

Mobile Home Park for Sale

Number of MH Lots: 23
Size: 2.9 acre(s)
Cap Rate: 15.2%
Status: Sale Pending
Property ID: 802117
Posted on: Apr 10, 2017
Updated on: Nov 06, 2017
Price: $450,000

Property Description

The all-ages community Tall Oaks is a 23 site mobile home park consisting of 16 park owned homes, currently running a 98% occupancy rate. The average lot rent is $400 per month and $600 for Park-Owned Homes.

The property’s water needs are maintained by a well and sewer is city-serviced (which are included in monthly rent). City electric, direct billed. The gas is for a single storage unit.

Click the Link for an Offering Memorandum: https://wwws.stagexchange.com/strattongroup/IN5

Park Information

Number of MH Lots:23
Total Occupancy:98.0%
Average MH Lot Rent: $300
Size:2.9 acre(s)

Financial Information (Actual)

Gross Income$115,838
Operating Expense$47,319
Net Operating Income$68,519
Expense Ratio 40.8%
Debt Info

Utility Information

Water:Well
Water Paid By: Park
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:18
Average Rent for Park-owned Homes: $600