THE WILLOWS MHC

GOSHEN, INDIANA

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