Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Listing ID: 1273117
- Posted On: Jun 16, 2020
- Updated On: Nov 17, 2020
Description
Listing Website: www.wiselycr.com has community video and link to the OM.
To obtain the Offerning Memorandum click on the following link: https://www.crexi.com/properties/399818/indiana-bremen-manufactured-housing-community?offeringMemorandum=download
Due Diligence Vault Link: https://www.crexi.com/properties/399818/indiana-bremen-manufactured-housing-community?openDueDiligence=open
Wisely Commercial Realty is pleased to offer for sale Bremen MHC located in Bremen, Indiana. Bremen MHC consists of 42 approved home spaces home situated on 10.26 acres of land. The property is serviced by city water and city sewer. The water and sewer are master metered and paid by the Landlord. A new operator can sub-meter the water and bill back to the residents. Seller Financing is available for qualified buyers.
Seller Financing Proposed Terms
Price: TBD by Purchaser
Down Payment: $175,000
Loan Term: 36 Months
Interest Rate: 10%
Year 1 Payments: Interest Only
Year 2 & 3 Payments: Amortized over 25 Years
Guarantee: Personal Guarantee required by Purchaser
Home In-Fill: Purchaser will be required to bring in at least 5 homes per year
Sub-Metering: Purchaser will be required to Sub-Meter within 12 Months
Location
Bremen, IN
Park Information
Community Type: | All Age |
Number of MH Lots: | 42 |
Total Occupancy: | 29.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $200 |
Size: | 10 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $165,564 |
Operating Expense: | $66,226 |
Net Operating Income: | $99,338 |
Expense Ratio: | 40.0 % |
Debt Info: | None |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |