White River Estates
Mobile Home Community
Muncie, Indiana
White River Estates Mobile Home Community is a 200 space value-add park located in Muncie, Indiana. This project is a medium-large scale project and represents a great opportunity for our investors.
Project Info
We are excited to present White River Estates Mobile Home Community as our most recent acquisition. The site is comprised of 198 operational mobile home spaces that are situated on a well-established 35.11 acre parcel in Muncie, Indiana. Muncie serves as a workforce feeder town to many neighboring industries and is located a little over 1-hour northeast of Indianapolis, Indiana. Prior management inefficiencies and poor maintenance practices failed to bring the park up to its full potential. This provided NP with an opportunity for a significant value-add situation.
We will engage our own vertically integrated on-site property management, repair the dated infrastructure, enforce strict park rules and bring in a substantial number of new or used tenant owned homes. We will add a significant increase to the park NOI by increasing lot rent in the community to market rates and upgrading infrastructure to infill the vacant lots.
Project Name: White River Estates Mobile Home Community
Location: Muncie, Indiana
Asset Type: Mobile Home Community
Licensed Spaces: 200
Operational Spaces: 198
Property Management: Vertical / NP Property Management LLC
Acquisition Type: Straight Sale
Closing Date: 09/03/2021
Project Stabilization: 60 Months
Interested in Partnering with us?
North Peak Development values collaboration with landowners interested in utilizing their properties for commercial real estate ventures. Investors seeking to diversify their portfolios are encouraged to connect with us through the form below. We look forward to exploring opportunities together.
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