Contact Information
Mobile Home Park Details
- Price: $1,250,000
- Cap Rate: 12.0% (Actual)
- Listing ID: 6842238
- Posted On: Mar 12, 2025
- Updated On: Mar 25, 2025
Description
Picturesque 11.35 Acre mobile home community, offering positive cash flow and room to grow. The property features 42 sites, 12 tenant owned homes, the remaining are rentals with a few rehab projects. Yielding a 12% cap rate currently and could be increased. There is a high need for affordable housing options in Wabash County. The park has recently switched management to a current tenant for better on-site management. There is excess unused acreage on the property that can be converted into additional mobile home lots or other uses. The units are serviced by a well which had a new pump installed recently. There is also a wastewater treatment plant for the park.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Number of MH Lots: | 42 |
Total Occupancy: | 83.0 % |
Year Built: | 1977 |
Size: | 11 acre(s) |
Financial Information (Actual)
Gross Income: | $208,380 |
Operating Expense: | $60,218 |
Net Operating Income: | $148,161 |
Expense Ratio: | 28.9 % |
Lot Information
Singlewide Lots: | 42 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Treatment Plant |
Park-Owned Homes
Number of Park-owned Homes: | 16 |
Average Rent for Park-owned Homes: | $700 |