Mobile Home Park Details

Purchase Method: Cash
Listing ID: 517167
Posted On: Apr 13, 2015
Updated On: Jul 13, 2015

Description

Auction - June 10, 2015 - visit www.madisonhawk.com/auctions/mhc-rvpark
Suggested Opening Bid: $750,000
Poplar’s Mobile Home Park consists of a 57-space mobile home community on 8.82 acres. Included in the offering is all of the land as well as 55 of the 57 mobile homes on site and all personal property owned by the Seller and used to operate the park. The two lots without a park owned home are rented to owners of their own homes. The park operates as weekly rentals and has a stable occupancy with tenants living there on an average of 1-2 years with some as many as 10 years. Occupancy is very strong. There are currently only two vacant units, due to renovations being done to the homes and there is a tenant waiting list for people wanting to rent.
The homes are all very well maintained and range from older metal 12’ x 54’ homes to newer lap and shingle 14’ x 80’ homes. The site is licensed for 97 homes. With the current configuration, it would be reasonable to explore the addition of 6-9 more homes.

Location

Poplar’s Mobile Home Park is located in the main retail corridor of Cassopolis Street (State Route 19) on the north side of the city of Elkhart, Indiana. It is approximately 1 mile south of the Indiana Toll Road.
Elkhart has a population of just over 51,100, its people are employed in a variety of industries ranging from small tool and die workshops to national RV manufacturers. It is known as both the RV Capital of the World and the Band Instrument Capital of the U.S.
Elkhart has a high degree of natural beauty with two rivers winding through town, attractive residential districts and outstanding public parks. It is also very accessible situated directly on I-80/90. It is located just 114 miles to Chicago, 150 miles to Indianapolis, 204 Miles to Detroit and 240 Miles to Cleveland.

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