PUMPKINVINE HILL RD Martinsville IN 46151

Wisely Commercial Realty is pleased to offer for sale Ruby Hills manufactured housing community located near Martinsville, IN. Ruby Hills is approved for 40 sites. 23 park owned homes come with the purchase, 10 which are vacant providing a new owner the opportunity to renovate and rent out the homes. The park is supplied with City water, the sewer is a private waste treatment plant.

Offering Summary

List Price: $995,000

IN-Place NOI: $90,009

In-Place Cap Rate: 9.05%

Proforma NOI: $122,419

Proforma Cap Rate: 12.30%

Price Per Site: $24,875

Total Approved Sites: 40

Occupied Paying Sites: 30

Economic Occupancy: 75%

Physical Occupancy: 92.5%

Park Owned Homes Included: 23

· The community has a great location just West of town on top of the hill

· Opportunity to occupy the vacant homes and bring in homes and fill the vacant sites

· Seller Financing Available for Qualified Buyers

· Value-Add Opportunity