Circle Park

Circle Park

Hamilton, IN
Available
  • Property Type: Manufactured Housing
  • Property Size: / 7± Acres / 49 Sites
  • Price: $2,100,000

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 1, the residents pay upfront for the entire season, which lasts between April 1 and October 31. 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, lake front 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 Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
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