Two Mobile Home Parks: Unknown & Redwood Mobile Home Parks " Muncie, IN
Presenting a rare chance to acquire two stabilized mobile home communities"Unknown and Redwood Mobile Home Parks"located in Muncie, Indiana. These adjacent parks offer a total of 61 Lots (28 Tenant owned, 15 Vacant Park Owned Homes, 15 Vacant Lots), a two bedroom house, a large shop, two commercial buildings, delivering strong in-place cash flow and long-term upside potential.
Utilities: All tenants are individually metered and billed directly by utility providers for water, sewer, electricity, and gas"minimizing owner expenses and enhancing operational efficiency.
Infrastructure
On-site management potential
Public utility connections (no private well/septic)
City trash pickup
Prime Location:
Conveniently located near local schools, retail centers, and major employers in Muncie, a city anchored by Ball State University and IU Health Ball Memorial Hospital. This is a stable rental market with consistent tenant demand and upside in occupancy and rents.
Investment Highlights:
Cap Rate: 8.5 currently. In June it will be over 10.
Lot rent in Redwood MHP: Average $350
Lot rent in Unknown MHP: Average $250
Recent Sewer upgrades in both Parks
Individually billed utilities
Value-add potential through infill, rent increases, or improved management
Cap rate and financials available upon request
These parks represent a turn-key investment or an ideal addition to a growing manufactured housing portfolio.
Contact us today to receive the full offering memorandum, rent roll, and financials. Send all Offers!
Contact Information
Contact Name: Lai Tran Contact Number: (206) 999-5873 Email Address:Contact Home Owner
Disclaimer: Some or all of the data contained in this listing has been provided by the seller or lessor as applicable and is believed to be accurate but is not guaranteed. The square footage listed for this property was entered by the owner and has not been verified for accuracy.
Corporate Address: 259 Kinderkamack Road, Hackensack, NJ 07601
- SEND ALL MAIL TO CORPORATE ADDRESS
Broker: Christine Eisenberg Licensed in AL (#000109990), GA (#411047), ID (#DB45234), NC (#313263), SC (#128331), TN (#341469), UT (#13803040-PB00)
Broker: Derek Eisenberg Licensed in CA (#02232851), CT (#REB.0756009), DC (#PB98365516), DE (#R2-0003013), FL (#BK3201465), IA (#B65225000), IL (#471.011777), IN (#PB21100034), KS (#00246358), KY (#278373), MA (#145125), MD (#611425), ME (#DB914709), ME (#DB914709), MI (#6502429374), MO (#2017004390), NH (#081.0071452), NJ (#8734252), NJ (#8734252), NV (#B.1002179.CORP), NY (#32EI0910766), OH (#BRK.2011000022), PA (#RM062792A), PA (#RM062792A), RI (#REC.0015997), TX (#720104), VA (#0225 100252), VT (#081.0071452), WV (#1638)
Broker: Licensed in CO (#IR.100107123)
Broker: Edward Donovan Licensed in LA (#BROK.995705992-ACT), MS (#23715), NM (#20765), WA (#22012082)
Broker: Gerard Kelly Licensed in MN (#40890738), ND (#11643), SD (#20479)
Christine Eisenberg Licensed in AL (#000109990), GA (#411047), ID (#DB45234), TN (#341469)
Derek Eisenberg Licensed in CT (#REB.0756009), DC (#PB98365516), DE (#R2-0003013), FL (#BK3201465), IA (#B65225000), IL (#471.011777), IN (#PB21100034), MA (#145125), MD (#611425), ME (#DB914709), MI (#6502429374), MO (#2017004390), NH (#081.0071452), NV (#B.1002179.CORP), NY (#32EI0910766), PA (#RM062792A), PA (#RM062792A), RI (#REC.0015997), TX (#720104), VA (#0225 100252), VT (#081.0071452), WV (#1638)
Edward Donovan Licensed in LA (#BROK.995705992-ACT)
Gerard Kelly Licensed in MN (#4890738)
