Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 25.0%
- Listing ID: 1253449
- Posted On: May 8, 2020
- Updated On: Jul 6, 2020
Description
Smaller park (21 Lots + 1 SFH) with great cash flow potential. Purchased 1 year ago as a turnaround park, made some good progress but we need to liquidate ASAP due to personal reasons. Pick up where we left off and have a great recession proof asset.
Located in Monticello, IN the County Seat of White County. Suburb of the Lafayette MSA. Diverse economy containing agriculture, tourism, manufacturing, etc... Huge demand for affordable housing.
Already on City Water and City Sewer. Master metered with submeters installed and bill back to tenants.
Huge summer vacation and spring/fall hunting/fishing area with potential to convert vacant pads to RV lots if desired.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 21 |
Total Occupancy: | 32.0 % |
Year Built: | 1976 |
Average MH Lot Rent: | $285 |
Size: | 2 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $129,420 |
Operating Expense: | $51,524 |
Net Operating Income: | $77,896 |
Expense Ratio: | 39.8 % |
Lot Information
Singlewide Lots: | 21 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 11 |
Average Rent for Park-owned Homes: | $550 |