1900 N Willow Rd, Evansville, IN 47711

VANDERBURGH COUNTY, IN - The MHP Broker is pleased to present Evansville Village MHP, a compelling investment opportunity strategically located in Vanderburgh County, IN, offering strategic access to downtown and major transit routes. This well-established manufactured housing community features a total of 57 permitted lots, including 13 POHs, 13 TOHs, 9 RTO units with an average payment of $520 and a remaining balance of $144,406, as well as 1 Apartment and 21 vacant lots ready for infill.

Currently, 21 lots remain vacant, providing significant room for expansion or additional revenue generation. The park operates on city utilities, with sewer services connected to a lift station, ensuring reliable infrastructure. There are no problem tenants. One long-term tenant provides park and Pump House oversight, acting as the "eyes and ears" of the community, helping to ensure smooth operations. This arrangement adds a layer of stability and keeps operational overhead low. Additionally, the park benefits from the steady demand for affordable housing, particularly among residents working in the local manufacturing, healthcare, and education sectors.

Evansville Village MHP offers a stabilized and well-maintained asset for the savvy investor. With average area lot rents around $400, the community presents excellent upside potential through infill and rent growth. The park features both paved and gravel roads and driveways in decent condition, contributing to its overall appeal. Seller recently replaced the lift station, investing $30,000 in capital improvements. Notably, the property is located outside of any flood zones, offering added peace of mind and long-term stability for both ownership and residents.

Evansville Village MHP presents a competitive investment opportunity with both immediate cash flow and growth potential. While third-party management is not currently in place, it remains a viable option for new ownership seeking a more passive investment approach. The asking price is $1,485,000, which includes the existing rent-to-own homes as well as all park-owned homes. The seller is not open to holding a note. Please contact the broker for additional financing options or to address any questions.