I have a new listing of a beautiful smaller MHP in Indiana that I thought I’d share with you.
This is a beautiful mobile home park on 15.53 acres located just ten miles SW of Muncie, IN. The park is in a beautiful rural setting with mature trees, a quiet neighborhood, and in the popular Daleville school system. The park currently has 16 pads, but could easily be increased to 35 pads should the new owner wish to expand it. In addition to the MHP it also comes along with a rental house, 24x40 pole barn, well house, paved streets, and a storm shelter. The owner has lived on site so the park has been well managed and maintained with strict rules and regulations. The majority of residents who live in this park are aged 50+. The park currently has 13 out of its 16 pads leased with quality long-term tenants. I mentioned earlier that this park could be expanded. Five of the fifteen acres is farm ground adjacent to the pads. This could be converted to additional mobile homes, or even potentially mini storage units. The purchase price also includes a newer zero turning radius lawnmower. The owner has requested to live in the residence for six months post closing. He will pay rent at the amount of $600/month and will also continue to do the mowing and maintenance until he moves out.
-10.1% cap rate
-Current rent $220 could be raised. (Includes water, trash, sewer)
-Gas & Electricity direct billed to the tenants.
-Park has its own well and septic system.
-All permits and licenses are current and in good standing.
-All homes are tenant owned.
Listing Agent: Jon Fisher, Champaign IL, (Halderman Real Estate Services, Inc.)
Listing agent email: firstname.lastname@example.org
Listing agent cell phone: 217-202-0924
Listing agent website: www.illinoisfarmground.com