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205 W Marshall St 92 Unit Mobile Home Park $9,073,480 CAD ($98,625 CAD/Unit) 9.67% Cap Rate Argos, IN 46501
INVESTMENT HIGHLIGHTS
- High Quality Community
- City Water & City Sewer Direct Billed
- 43 Park Owned Homes
EXECUTIVE SUMMARY
COLONIAL COURT - ARGOS, INDIANA.
This manufactured housing community offers 92 mobile home sites meticulously maintained and upgraded by the current owner. Boasting a solid 99% occupancy rate, with 43 park-owned homes included, this property generates a combined IN-Place NOI of $628,736. Situated in a prime location with city water and sewer services, residents are directly billed for water, sewer, and trash, ensuring the community operates at a low expense ratio.
Check out the updated Offering Memorandum. Some of the park-owned homes were sold off, and we have an updated rent roll that accounts for the rent increase at the community.
Community Price: $5,500,000 (7% Cap Rate)
Park Owned Homes: $1,000,000
Total Purchase Price: $6,500,000
Community Video Link: https://youtu.be/509nrHaLuJo
Listing Site: www.wiselycr.com
This manufactured housing community offers 92 mobile home sites meticulously maintained and upgraded by the current owner. Boasting a solid 99% occupancy rate, with 43 park-owned homes included, this property generates a combined IN-Place NOI of $628,736. Situated in a prime location with city water and sewer services, residents are directly billed for water, sewer, and trash, ensuring the community operates at a low expense ratio.
Check out the updated Offering Memorandum. Some of the park-owned homes were sold off, and we have an updated rent roll that accounts for the rent increase at the community.
Community Price: $5,500,000 (7% Cap Rate)
Park Owned Homes: $1,000,000
Total Purchase Price: $6,500,000
Community Video Link: https://youtu.be/509nrHaLuJo
Listing Site: www.wiselycr.com
PROPERTY FACTS
| Price | $9,073,480 CAD | Apartment Style | Garden |
| Price Per Unit | $98,625 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 12.38 AC |
| Cap Rate | 9.67% | Building Size | 80,000 SF |
| No. Units | 92 | Average Occupancy | 99% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built/Renovated | 1970/2015 |
| Zoning | R-4 - Residential Multi-Family | ||
| Price | $9,073,480 CAD |
| Price Per Unit | $98,625 CAD |
| Sale Type | Investment |
| Cap Rate | 9.67% |
| No. Units | 92 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 12.38 AC |
| Building Size | 80,000 SF |
| Average Occupancy | 99% |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2015 |
| Zoning | R-4 - Residential Multi-Family |
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205 W Marshall St
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