601 Center St, Fort Branch, IN 47648

Property Details for 601 Center St

Year built

1990

Lot size

0.48 lot acres

Property type

Mobile home & RV parks

Property subtype

Campgrounds

APN

26-19-19-101-001.055-026, 26-19-19-101-000.965-026

Description

This exceptional investment opportunity presents a four-unit RV park situated on a 0.48-acre lot in Fort Branch, Indiana. The property consists of four mobile homes, each currently generating $600 in monthly rent, resulting in a 100% occupancy rate and a substantial net operating income (NOI) of $28,800. The asking price is $227,000, representing a compelling cap rate of 12.69% and a price per square foot of $56.52. Built between 1990 and 2003, with significant renovations completed in 2021/2022, the property includes four buildings, each a single story, totaling 4,016 square feet of net rentable space. Two parking spaces are available per unit, with additional parking provided on a centrally located lot. The property is conveniently located near Highway 41, offering easy access to shopping, schools, healthcare, and the Toyota manufacturing plant. Unit sizes vary, with two- and three-bedroom options, each featuring two bathrooms (except one unit with one bathroom). One unit has recently undergone a remodel, including new kitchen cabinets, subflooring, LVT flooring, and an exterior door. All units boast new exterior AC units. Tenants are responsible for their utilities, while the owner covers insurance, taxes, and maintenance. Rental income has the potential for significant increases, with the possibility of raising rents to at least $750 per month, further enhancing the property's already impressive return on investment. The property is free and clear of any ground lease. The APN numbers are 26-19-19-101-001.055-026 and 26-19-19-101-000.965-026.

Location Insight

City

Fort Branch

County

Gibson

State

Indiana

Longitude

-87.5762861

Latitude

38.2428289