This Multifamily Property is Off-Market.

400 S. Harkless
Syracuse, IN 46567 ·

173 Spaces · Multifamily For Sale

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Turtle Bay Estates- Receiver's Sale

Price N/A Distressed Yes
No. Spaces 173 Cap Rate 9%
Property Type Multifamily Occupancy 56%
Property Sub-type Mobile Home/RV Community Lot Size 23 AC
Property Use Type Investment
Listing ID: 16434725 Date Created: 10/16/2009 Last Updated: 05/19/2010

Description

RECEIVER'S SALE-CALL FOR OFFERS DEADLINE- 12/11/09-

TO DOWNLOAD A COMPLETE PACKAGE, CLICK ON THE LINK BELOW "TIKIJIAN ASSOCIATES WEBSITE-DOWNLOAD PACKAGE HERE". (Near bottom of page).
Turtle Bay is a 173-pad manufactured housing community located in Syracuse, Indiana. The property is being sold by a court-appointed receiver. Favorable assumable financing is available for a qualified buyer.
Turtle Bay is an all age manufactured housing community located directly on Lake Syracuse. 23 Lots are located directly on the water with 33 docks/66 boat slips. Amenities include a community swimming pool, childrens' playground area and basketball court.
The property is located only 1 mile from popular Lake Wawasee. Residents of Turtle Bay can access Lake Wawasee via a lake channel. Lake Wawasee, which measures approximately 3,400 acres, is Indiana' s largest natural lake.
The property has significant upside potential that can be realized by through improving occupancy. Turtle Bay is serviced by all city utilities. Tenants pay their own utilities. The lots are sub-metered individually for water and sewer.

The property is located only 1 mile from popular Lake Wawasee. Residents of Turtle Bay can access Lake Wawasee via a lake channel. Lake Wawasee, which measures approximately 3,400 acres, is Indiana' s largest natural lake. Turtle Bay is located in Kosciusko County which is one of the counties in the northern Indiana Lake Region. The county has a wealth of natural lakes, which provide recreational boating, fishing and general employment opportunities. Lake Wawasee, Indiana' s largest natural lake, and Lake Tippecanoe, Indiana' s deepest lake, are both located in Kosciusko County. The county seat, Warsaw boasts the title of Orthopedic Manufacturing Capital of the World. The county is also fundamentally an agricultural area, having some of the best soil in the northern part of the state. Kosciusko County has many major employers, which include three large & several smaller orthopedic companies and one of the largest gravure printing company that employ over 7,000 people. Kosciusko County has several major Agri-businesses that supply food products within the United States and to several international locations.

Highlights

  • TO DOWNLOAD A COMPLETE PACKAGE, CLICK ON THE LINK BELOW "TIKIJIAN ASSOCIATES WEBSITE-DOWNLOAD PACKAGE HERE". (Near bottom of page).
  • Waterfront Location: Community Located on Lake Syracuse with access to Lake Wawasee
  • 23 Lake Side Lots: 33 Docks and 66 Boat Slips
  • Tenant Paid Utilities: Sub-Metered Water, City Utilities
  • Amenities: Community Swimming Pool, Playground Area & Basketball Court
  • Assumable Debt: High Leverage, Non-Recourse, 5.49% Interest Rate, Matures 11 /2012

Research

400 S. Harkless, Syracuse, IN 46567 (Kosciusko County)

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