Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.4%
- Listing ID: 869375
- Posted On: Oct 17, 2017
- Updated On: Mar 17, 2018
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
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: | 5 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $68,417 |
| Operating Expense: | $37,411 |
| Net Operating Income: | $31,006 |
| Expense Ratio: | 54.7 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
