For Sale
$599,000

1235 Vance AveFort Wayne, IN 46805

High-Yield Mobile Home Park, 100% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional investment opportunity awaits with Vance Village, a well-maintained mobile home park situated on a 0.6-acre lot at 1235 Vance Ave, Fort Wayne, IN 46805, in thriving Allen County. This Class B, stabilized property boasts 11 pads (10 mobile homes and one stick-built home), currently enjoying 100% occupancy as of May 23, 2024. Built in the 1950s, the park offers a compelling 9.54% cap rate and a strong NOI of $57,135, translating to an attractive price per pad of $54,454.55. The asking price is $599,000. Convenient city water and sewer services are in place, with resident billing for these utilities and trash, streamlining management. Third-party management is currently in place. The property is zoned MHC, providing stability and future development potential. This turnkey operation presents a rare opportunity for immediate income generation and long-term growth in a desirable location. The property's strong performance metrics and established infrastructure make it an ideal addition to any investor's portfolio. This is a truly exceptional opportunity to acquire a high-performing mobile home park in a prime location.

Highlights

  • $599,000 asking price for a stabilized Class B mobile home park.
  • 9.54% cap rate with a $57,135 NOI.
  • 100% occupancy, 11 units/pads on a 0.6-acre lot in Fort Wayne, Indiana.
  • City water and sewer.
  • Third-party management in place.

Property Details for 1235 Vance Ave

Property type
Mobile home & RV parks
Class
B
Year Built
1950
Lot Size (sq. ft)
26,136 SF
Units
11

Location Insight

City
Fort Wayne
County
Allen
State
Indiana
Latitude
41.104522
Longitude
-85.1228791
1235 Vance Ave, Fort Wayne, Indiana

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1235 Vance Ave
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