Looking for partner on 17 lot park in Muncie, Indiana. All utilities are public and direct billed. Easy value-add opportunity. I live within a few hours of the park and am happy to perform diligence and manage in exchange for sweat equity.
Feel free to drop your email below if interested.
• Purchase Price: $500,000
• Initial Capitalization Rate: 8.4%
• Current Gross: $45,900/yr
• Current Net: $42,028/yr (<10% expense ratio)
• Lots: 17 (17 occ.)
• Lot Rent: $225 (Market $300+)
• TOH: 17
• POH: 0
• Water: City (direct-billed)
• Sewer: City (direct-billed)
• Flood Zone: No
• Opportunity Zone: No