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Address is 211 E First Street Converse, IN 46919

Adam Mcneil

Wisely Commercial Realty, Inc.

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Converse MHC 45 Sites

Multi Family Housing for Sale in Converse, Indiana

211 E First Street
Converse, IN 46919

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Sale Price: $329,000
 

Contact Information

Adam Mcneil
Wisely Commercial Realty, Inc.

Mobile Home Park for Sale

Number of MH Lots: 45
Size: 4.5 acre(s)
Cap Rate: 9.4%
Purchase Method: Cash, New Loan
Status: Active
Property ID: 869375
Posted on: Oct 17, 2017
Updated on: Nov 07, 2017
Price: $329,000

Property Description

Wisely Commercial Realty is pleased to offer for sale Converse manufactured housing community located in Converse, Indiana. Converse consists of 45 developed 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.

Investment Highlights:

• City Water & City Sewer, Residents are Sub metered
• Half of the community water lines were replaced 24 months ago
• Residents direct billed for electric and gas
• Includes 6 mobile homes, 3 are occupied
• Opportunity to Fill Vacant Sites

Check out the Community Video

https://www.youtube.com/watch?v=yxn_LRblwmU&feature=youtu.be

For more information please call complete the CA and email to armcneil@wiselycr.com or call 317-564-8339.

Location Description

The property is located in the Town of Converse, a community located in the southern portion of Miami County. Converse is uniquely positioned as a hub between four counties: Miami, Wabash, Grant, and Howard.

Park Information

Number of MH Lots:45
Total Occupancy:29.0%
Average MH Lot Rent: $225
Size:4.5 acre(s)

Financial Information (Pro Forma)

Gross Income$68,417
Operating Expense$37,411
Net Operating Income$31,006
Expense Ratio 54.7%
Debt Info

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes:6