Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.8%
- Listing ID: 1292945
- Posted On: Jul 22, 2020
- Updated On: Jan 4, 2021
Description
Offering Memorandum: https://www.crexi.com/properties/429303/indiana-lakeview-mhc?offeringMemorandum=download
Due Diligence Vault: https://www.crexi.com/properties/429303/indiana-lakeview-mhc?openDueDiligence=open
Community Video : https://youtu.be/SaxT3jH3jaU
Listing Website: www.wiselycr.com
PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Lakeview MHC located in Wabash, Indiana. Lakeview MHC consists of 42 approved home spaces home situated on 10.26 acres of land. The property is serviced by well water and a waste treatment plant. A new owner can come in and renovate the inventory homes and either sell them or rent them out. The 7 inventory homes rented at $550 per month would generate an additional $46,200 or rent per year.
INVESTMENT HIGHLIGHTS
• Waste Treatment Plant is operated by a licensed operator and is in good shape
• Opportunity to renovate and fill the inventory homes
• Strong Housing Demand in the Surrounding area
Park Information
| Number of MH Lots: | 42 |
| Total Occupancy: | 69.0 % |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $153,366 |
| Operating Expense: | $44,788 |
| Net Operating Income: | $108,577 |
| Expense Ratio: | 29.2 % |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
