Mobile Home Park Details
- Listing ID: 798907
- Posted On: Mar 30, 2017
- Updated On: Dec 14, 2022
Description
Colliers Manufactured Housing Group is pleased to present a rare opportunity to acquire a 3 Property Portfolio in Indiana consisting of:
• 216 total home sites, 4 stick built homes consisting of 6 apartment units, 3 communities
• Significant opportunity to increase occupancy and net income through lease up
• Rare opportunity to own 216 home sites in a major MSA with population exceeding 2MM
• Enjoy the benefits of management efficiencies; properties are less than 90 minute drive time
• Combined owner reported 2016 NOI is above $150,000 with the opportunity to achieve over $535,000 once stabilized
• Strong in place average rents are at market and strong demand to rent homes, owners are actively renting home sites
Check out the Indiana Portfolio website for the full offering memorandum:
http://colliersmanufacturedhousing.listinglab.com/IndianaPortfolio/
Russ Williamson
614.329.1922
russ.williamson@colliers.com
Broker of Record:
241 N. Pennsylvania Street Suite 300, Indianapolis, IN 46204
Please contact Russ Williamson at 614-329-1922 for further details.
Park Information
Community Type: | All Age |
Number of MH Lots: | 216 |
Total Occupancy: | 43.0 % |
Size: | 44 acre(s) |
Financial Information (Actual)
Gross Income: | $447,918 |
Operating Expense: | $295,654 |
Net Operating Income: | $152,264 |
Expense Ratio: | 66.0 % |
Lot Information
Singlewide Lots: | 198 |
Doublewide Lots: | 18 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |