503-454-6510 info@northpeakdev.com

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

Acquisition Type: Straight Sale

Closing Date: 09/03/2021

Project Stabilization: 60 Months

 

Invest With Us

Interested in investing? North Peak Development offers a variety investment options at different phases of each project. Click on the button below to be taken to our investment portal, or read below to understand how each phase works.

Additional Mobile Home Projects

Lake Arthur Estates

Mobile Home Community

Remington, Indiana

Lake Arthur Estates is the sole mobile home community in Remington, Indiana and is one of only six communities in Jasper County. Lake Arthur has 46 operational spaces.

Water Tower

Mobile Home Community

Morristown, Indiana

Water Tower Mobile Home Community (MHC) provides a value add investment opportunity for North Peak Development Group (NPDG) and partners. The existing community is well laid out and was kept fairly clean but several inefficiencies limited the maximum potential of the community prior to our acquisition. This is a great opportunity.

Fairview Village

Mobile Home Community

Osgood, Indiana

Fairview Village is a mobile home community located in Center Township and the Town of Osgood, Indiana. The community contains 47 operational spaces and sits on 13.1 acres of land. The community is zoned for 66 spaces by the State of Indiana and our goal is to develop the existing land to maximize the community zoning.

Let's Build Something

info@northpeakdev.com

525 3rd Street
Suite #200
Lake Oswego, OR 97034
503-454-6510

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