100% Lease Mobile Home Park

8450 S Old State Road 37, Bloomington, Indiana 47403

  • Property Subtypes Mobile Home Park
  • Building Size (RSF) 12,166 SF
  • Gross Building Area 12,166 SF
  • Building Status Existing
  • Sale Price $979,000.00 Total
  • Unit Price $80.47 per SF
  • Class of Space N/A
  • Total Land Size 10.92 Acres
  • Sale Terms Purchase Money MortgageCash to Seller
  • Cap Rate 9.7
  • Gross Rent Multiplier 9.2
  • Last Updated 6/8/2020
  • Days on Market 107 Days
  • Status active

Overview / Comments

100% leased investment property for sale with 9.7% CAP Rate. Full Moon Estates Mobile Home Park consists of 9 mobile homes generating $106,000 yearly income on Bloomington's Southeast side near Starlite Drive-In Theatre. Sale includes 11 acres allowing for expansion of additional mobile homes. Affordable housing is needed in Monroe County! Included in the sales price are the mobile homes along with a 60 inch zero-turn Husqvarna, a Ford ranger pick-up. One of the tenants takes care of maintaining property in exchange for reduced rent. See drone video: https://youtu.be/NTOaE1fn3MA

Agent Notes

Owner added a basement to the double wide that can be rented out. May be able to get 30+ more mobile home lots with county approval. See drone video: https://youtu.be/NTOaE1fn3MA

Attachments & Media

Financials

  • Finance Data Year 2019
  • Real Estate Taxes - Annual($) 4,576
  • Potential Rental Income $106,560
  • Net Operating Income $95,192
  • Gross Operating Income $106,560
  • Actual or Proforma Year Proforma

Additional Details

  • Tax ID/APN 53-11-17-400-052.000-006
  • Total Number of Buildings 9
  • Year Built 1996
  • Year Renovated 2015
  • Land Ownership Owned
  • Legal Description 004-08460-00 PT W1/2 SE 17-7-1W 10.923A; PLAT 28
  • Zoning Description Agriculture / Rural Reserve

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