Property History
Property Type
Property Type
Marketing Description
Wisely Commercial Realty is pleased to offer for sale Two manufactured housing communities with a total of 66 sites located Northeast of Lafayette, Indiana. Both communities have City Water & City Sewer, even better the providers direct bill the residents which reduces the expense for an operator. Meado Vu MHC has 22 sites and is in Brookston, IN. River Terrace MHC has 44 sites and is in Rennselaer, IN. A new operator can come in and fill the vacant sites with new homes to increase the cash flow. 18 homes are included in the sale, 15 of them are occupied and paying rent.
OFFERING SUMMARY
Communities List Price: $1,350,000
Homes List Price: $265,000
Total List Price: $1,615,000
Combined NOI: $160,541
Combined Cap Rate: 9.9%
Community Only NOI: $100,969
Community Only Cap Rate: 7.5%
Total Sites: 66
Occupied Sites: 41
Occupancy: 62%
Park Owned Homes: 18
Investment Highlights
- Communities are located only 30 miles from each other
- City Water & City Sewer. Bills are direct billed to the Residents
- 18 parked owned homes included in the sale
- Opportunity to increase occupancy by infilling the vacant sites
Loan History
Financial History
****** Data
Net Operating Income
Reporting Date
Tax History
Contact Information
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Ownership Information
Zoning
A-1 AgricultureGeneral Agriculture
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View all 303 uses
View all 303 uses Last updated Feb 27, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
Contacts
Listing removed on
BY:
Adam McNeil PRO
•••.•••.7637
••••neil@••••••••.com
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