White River Estates

White River Estates

Muncie, IN
Available
  • Property Type: Manufactured Housing
  • Property Size: / 35.11± Acres / 198 Sites
  • Price: $3,300,000

Overview

Capstone Manufactured Housing is pleased to present White River Estates, a 198-site community situated in Muncie, IN. This community provides a tremendous value-add opportunity for an incoming investor based on the current asset profile and supporting market demand and comps. Nearby Muncie communities, owned by some of the largest operators in the sector, maintain an average occupancy close to 90% with an average lot rent of $365, compared to the 22% occupancy and $267 lot rent at White River Estates. With strong market demand, public utilities, considerable scale, and the ability to revitalize the community through operational efficiencies and infill, this offering presents a one-of-a-kind opportunity to capitalize on a turnaround investment.

Investment Highlights

  • Lot Rent $100 Below Market
  • City Water/Sewer
  • Substantial Infill Opportunity
  • Proven Market Demand
  • Minimal Park-Owned Homes
  • Upside In Filling Vacancy

Contact Information

Hunter LaRocca Senior Advisor P: 407.227.9643
O: 800.261.9464 ext. 7012
hunter@capstone-companies.com
Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 7004
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 7008
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 7011
hummell@capstone-companies.com