Mobile Home Park Details
- Cap Rate: 6.5%
- Listing ID: 3493580
- Posted On: Aug 9, 2023
- Updated On: Dec 20, 2023
Description
***Exclusively listed by Jennifer Stein Real Estate Inc. & MFI Commercial
Big Cedar Mobile Home Community
Explore Big Cedar MHC, a well-positioned investment opportunity in the mobile home park sector. Situated in Brookville, Indiana, this 8.817-acre property accommodates 50 approved home spaces, each crafted to meet community living standards. The integration with city water and a cutting-edge waste treatment facility ensures a modern living environment, while the submetering system guarantees precise billing.
For the discerning investor, Big Cedar MHC offers a unique blend of existing revenue streams and untapped growth potential. With 64% occupancy and a diverse portfolio of park-owned and tenant-owned homes, the opportunity to refurbish, develop, and optimize the utilization of all available sites is ripe.
Embrace the future of community development and revenue growth with Big Cedar MHC. Contact Jennifer Stein Real Estate Inc. and MFI Commercial to learn more about this compelling investment opportunity.
Location
Strategic Investment Opportunity: Located in Brookville, Indiana, Big Cedar MHC is a prime mobile home community investment, spanning 8.817 acres.
-- 50 Approved Home Spaces: The park-owned homes at Big
Cedar
-- MHC are well-maintained, meeting the highest standards of
community living, and highlighting their quality and lasting value.
-- Modern Utility Infrastructure: Integrated with city water and a
state-of-the-art waste treatment facility, with meticulous
submetering for accurate billing.
-- Occupancy and Revenue Details: highlighting room for growth.
50 Total Lots | 64% current occupancy,
37 park-owned homes (1985-2009), rents from $300 to $670.
*8 vacant park-owned homes
3 tenant-owned homes, $300 rent
10 vacant lots
-- Streamlined Expense Management:
Sewage, trash, and electric
costs are billed back to tenants, ensuring operational efficiency.
****Comprehensive Investment Package****
Access to the Offering Memorandum (OM) for detailed insights,
including rent roll, financials, pro forma, and inventory.
Park Information
| Number of MH Lots: | 50 |
| Total Occupancy: | 64.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $202,644 |
| Operating Expense: | $85,428 |
| Net Operating Income: | $117,236 |
| Expense Ratio: | 42.2 % |
Lot Information
| Singlewide Lots: | 50 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 37 |
| Average Rent for Park-owned Homes: | $300,670 |
