1235 Vance AveFort Wayne, IN 46805

Property Details for 1235 Vance Ave

Year built

1945

Construction

WOOD

Lot size

0.60 AC

Property size (Sq ft)

812 SF

Property type

Commercial real estate

APN

02-07-25-453-041.000-074

APU

20725453041000074

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $174,808

  Hospitality

  $160,123

  Educational

  $133,220

  Medical

  $137,802

  Retail

  $207,232

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Latitude

41.1043

Longitude

-85.1229

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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