5866 200th S Wabash, IN 46992-9747

This exceptional 11.35-acre mobile home community in Wabash, Indiana, presents a lucrative investment opportunity. Currently boasting 42 sites, with 11 tenant-owned mobile homes and the remainder generating rental income, this property offers a strong 9% cap rate with significant upside potential. A recent management change to a current tenant ensures efficient on-site oversight. The property features a recently updated well pump and a dedicated wastewater treatment plant, ensuring reliable infrastructure. Several units are ready for rehabilitation, presenting immediate opportunities to boost profitability and increase the cap rate to 12% with minimal initial investment. The high demand for affordable housing in Wabash County guarantees strong occupancy rates. Furthermore, the substantial excess acreage allows for expansion, creating additional mobile home lots or exploring alternative uses to further enhance revenue streams. This is a rare chance to acquire a well-established, cash-flowing asset with considerable growth potential in a desirable market. The asking price is $1,350,000.