Circle Park

Circle Park

Hamilton, IN
Available
  • Property Type: Manufactured Housing
  • Property Size: / 7± Acres / 49 Sites
  • Price: $1,800,000

Overview

Capstone Manufactured Housing is pleased to present Circle Park, a 49-Site community located on Hamilton Lake in Hamilton, Indiana. The community features waterfront accessibility and 54 boat docks, which are rented to both residents and non-residents. Circle Park showcases several operational efficiencies, including all resident-owned homes and public utilities. Water, Sewer, and Trash are included in the rent, providing an opportunity to bill-back to the residents. Additionally, the community is 100% occupied, and it is operated on a seasonal basis. By March 1st, the residents pay upfront for the entire season, which lasts between April 1st and October 31st. The upfront payment eliminates any bad debt risk. Since the residents own their homes, the homes are on-site for the entire year. The upfront payment averages to $162 per month, which is significantly lower than the monthly rent for surrounding properties. For example, the adjacent park boasts lot rents of $330, $168 higher than Circle Park. A new owner can immediately realize increased income by implementing an effective lot rent growth strategy. This offering presents the unique opportunity to acquire a turn-key, lakefront community with multiple avenues to increase cash flow.  

Investment Highlights

  • Tremendous Lot Rent Growth Potential
  • All Resident-Owned Lot Rent Only Residents
  • Stabilized Turn-Key Asset 
  • Public Utilities with Opportunity to Bill-Back to Residents
  • Residents Pay Upfront for The Entire Summer Season
  • Excellent Waterfront Location
  • Additional Income Stream Through Renting Boat Docks to Non-Residents 
  • Approved Redevelopment Opportunity for Condos

Contact Information

Hunter LaRocca Senior Advisor P: 407.227.9643
O: 800.261.9464 ext. 7012
hunter@capstone-companies.com
Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 7004
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 7008
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 7011
hummell@capstone-companies.com