Anoka Acres & Woodland Hills

Anoka Acres & Woodland Hills

Logansport, IN
Available
  • Property Type: Manufactured Housing
  • Property Size: / 77 Acres / 231 Sites

Overview

Capstone Manufactured Housing is pleased to present Anoka Acres & Woodland Hills, featuring 231 sites in Central Indiana. Located in Logansport and Peru, the communities are 14 miles apart, allowing the current owner to share staffing between the two properties. Recently, the owners invested significant capital to clean up and elevate the properties. This includes repaving the roads, removing condemned homes, and installing 107 new homes. Across the two communities, there are only 4 older homes, and the remaining homes are 2016 or newer. Furthermore, at Woodland Hills, there are 41 vacant park-owned homes, 40 of which are 2016-2021. A new owner can substantially increase cash flow by focusing on leasing-up those vacant homes. For example, if 20 homes were leased in Year 1, this would grow the effective rental income by 16% ($158,000+).  Additionally, there are approximately 10 acres of undeveloped land at Anoka Acres which would allow a new owner to increase cash flow. This offering presents investors the opportunity to acquire two well-maintained communities with immediate rental upside.

Investment Highlights

Communities Located Less Than 20 Minutes Away From Each Other

Shared Staffing Due to Close Proximity

Upside in Filling Vacancy

Recent Capital Improvements: Road Repaving, Removal of Old Homes, Electric and Plumbing Upgrades at New Home Installations

Current Owner Installed New Homes – 15  New Homes at Anoka Acres & 92 New Homes at Woodland Hills

Expansion Opportunity at Anoka Acres – 116 Potential Expansion Sites

Contact Information

Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
Hunter LaRocca Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
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