Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.9%
- Listing ID: 1468072
- Posted On: Jun 30, 2021
- Updated On: Sep 24, 2021
Description
For more information please go to www.wiselycr.com for a link to the OM and Community Video. Listed by Adam McNeil with Wisely Commercial Realty, 317-564-8339.
Community Video Link: https://youtu.be/QzxXgEPiRnw
Offering Memorandum Link: https://www.crexi.com/properties/628876/indiana-north-walnut-mhc?offeringMemorandum=download
Due Diligence Vault Link: https://www.crexi.com/properties/628876/indiana-north-walnut-mhc?openDueDiligence=open
PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale North Walnut MHC located in Muncie, Indiana. North Walnut MHC consists of 32 approved home spaces situated on 3 acres of land. The property is serviced by City Water and City Sewer. Electric, Gas and Water is direct billed to the residents by the city. A new owner can come in and occupy the vacant park owned homes and fill the four vacant sites with homes. The community includes 21 park owned homes, some are sold on contract, and some are rentals.
INVESTMENT HIGHLIGHTS
• Stable Community with 75% occupancy, opportunity to fill remaining sites
• Great location, near Muncie Mall, Aldi, Texas Roadhouse and a bus stop
• City Water & City Sewer
Location
Muncie, IN
Park Information
| Number of MH Lots: | 32 |
| Total Occupancy: | 75.0 % |
| Size: | 3 acre(s) |
Financial Information
| Gross Income: | $132,049 |
| Operating Expense: | $28,778 |
| Net Operating Income: | $103,271 |
| Expense Ratio: | 21.8 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
