• Sherwood MHP & Bourne End MHP - 906 W Main St, Peru, IN 46970

For Sale

Multi-Family

For Sale

This property is available for sale
23.5
Acres
$1,200,000
Sale Price
  • Overview

    Peru is a city in, and the county seat of, Miami County, Indiana, United States. The population was 11,417 at the 2010 census, making it the most populous city in Miami County. The subject consists of two mobile home parks with the following addresses: Sherwood MHP: 906 West Main Street and Bourne End MHP: 3 Wycombe Drive. Two mobile home parks with a total of 103 pads. All public utilities. Two maintenance personnel for both parks. Sherwood may offer a real estate play because of it’s strategic location. Sherwood Mobile Home Park consists of 48 pads. All public utilities. No Section 8. No double-wides. 18 total occupied units. Two of these tenants rent fixer uppers and pay only the lot rent which is $220 + $45 for water for a total of $265. Three tenants own the home via land contract and pay $390 per month for the lot and the home. 13 Tenants own their own home and only pay the $265 lot and water. The balance of the park is empty. This park may offer a real estate play in that the land is ideally located next to Kroger and across from McDonalds. Bourne End Mobile Home Park consists of 66 pads and offers off street parking, all public utilities, one Section 8 tenant, 2 double-wides. Lot rent is $265 including $45 for water. Tenants pay gas and electric. 5 mobile homes need to be torn down. 10 homes are being rented or buying land contract four of which are have renovated homes and are paying $550 per month, the rest pay an average of $400 per month. 17 tenants are only paying the lot rent for a total of 27 paying tenants. 11 Vacant homes. Government Trailers: Sherwood has 7 government trailers that need to be renovated Bourne End has 8 government trailers of which 7 have already been renovated and 6 are rented.

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Property Details

Peru is a city in, and the county seat of, Miami County, Indiana, United States. The population was 11,417 at the 2010 census, making it the most populous city in Miami County. The subject consists of two mobile home parks with the following addresses: Sherwood MHP: 906 West Main Street and Bourne End MHP: 3 Wycombe Drive. Two mobile home parks with a total of 103 pads. All public utilities. Two maintenance personnel for both parks. Sherwood may offer a real estate play because of it’s strategic location. Sherwood Mobile Home Park consists of 48 pads. All public utilities. No Section 8. No double-wides. 18 total occupied units. Two of these tenants rent fixer uppers and pay only the lot rent which is $220 + $45 for water for a total of $265. Three tenants own the home via land contract and pay $390 per month for the lot and the home. 13 Tenants own their own home and only pay the $265 lot and water. The balance of the park is empty. This park may offer a real estate play in that the land is ideally located next to Kroger and across from McDonalds. Bourne End Mobile Home Park consists of 66 pads and offers off street parking, all public utilities, one Section 8 tenant, 2 double-wides. Lot rent is $265 including $45 for water. Tenants pay gas and electric. 5 mobile homes need to be torn down. 10 homes are being rented or buying land contract four of which are have renovated homes and are paying $550 per month, the rest pay an average of $400 per month. 17 tenants are only paying the lot rent for a total of 27 paying tenants. 11 Vacant homes. Government Trailers: Sherwood has 7 government trailers that need to be renovated Bourne End has 8 government trailers of which 7 have already been renovated and 6 are rented.

  • Property Type
    Multi-Family
  • Submarket
  • Sale Price
    $1,200,000
  • Total Acres
    23.5
  • Sale Status
    Available
  • Property ID
    1901161

Landlord's Sales Representative

  • Bart Weprin
    Weprin Realty Inc