THE WILLOWS MHC

GOSHEN, INDIANA

The Willows MHC
The Willows MHC
The Willows MHC
The Willows MHC
The Willows MHC
The Willows MHC
The Willows MHC
The Willows MHC

400 Willows Way, Goshen, IN 46526

Listed By:

Property Highlights

SITES

OCCUPANCY

AVERAGE SITE RENT

TOTAL PRICE

145

92%

$433

TBD by Market

Investment Highlights

• Opportunity to Acquire A 4.5 Star Manufactured Housing Community Located in Goshen, Indiana

• 55+ Senior Community

• Public Water Direct Billed to Tenants

• Additional Land to Add 8 New MH Spaces

• Situated Within One of the Top 100 Best Small Cities in the Country

• Convenient Location Between a Long-Established Residential Neighborhood and Power Center Anchored by Wal-Mart, Target, Lowe’s and Kohl’s

Request Property Information

Jonathon McClellan

(216) 264-2023

Jonathon.McClellan@marcusmillichap.com

Kyle Baskin

(216) 264-2059

Kyle.Baskin@marcusmillichap.com

Josh Caruana

Broker of Record - Indianapolis

(317) 218-5300

License RB14034355

Property Overview

Marcus & Millichap is pleased to present the opportunity to acquire The Willows MHC located in Goshen, Indiana. The Willows is a 4 star, 55+ senior manufactured home community situated on 57.48 acres, built in 1999, and is comprised of 145 existing spaces. The property is currently 92% occupied. Additionally, there is sufficient land to add 8 new MH spaces. As of October 2018, there are currently 12 vacant sites, not including the 8 additional development sites, the Year 1 Pro Forma shows a vacancy of 7 sites. Finally, the property includes a 6.29
acre parcel of land zoned B4 (commercial) that would be well suited for a self-storage facility, which represents further value add opportunity. The Willows is comprised of primarily doublewide homes (90%), with most accompanied by an attached 1-2 car garage. The existing spaces and the park’s amenity structures and green spaces occupy 41.2 acres and the balance of ~16 acres is unimproved (vacant or RV storage area). Additionally, the second-floor of the community center has two apartments, which are leased and generate revenue. The senior park
market is ~94% leased.

GET IN TOUCH:

SOCIAL LINKS:

Jonathon McClellan
Senior Managing Director Investments

Jonathon.McClellan@marcusmillichap.com

(216) 264-2023

Kyle Baskin

Senior Managing Director Investments

Kyle.Baskin@marcusmillichap.com

(216) 264-2059

Jacqueline Sawchik

Executive Assistant | Marketing Coordinator

Jacqueline.Sawchik@marcusmillichap.com

(216) 264-2062

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© 2017 by McClellan & Baskin MHC Group