5600 W Kilgore Ave
- 100 MH sites – Muncie, Indiana (Delaware County)
- Proximate to Ball State University, the White River walking path and Northwest Plaza Shopping Center
- City utilities – all utilities are direct billed (W/S/T/E)
- 48% occupancy – tremendous opportunity to infill new homes to drive occupancy and improve the community
- $504 per month average lot rent – greater submarket averaging $516
Property Description
Casita Gardens represents a unique opportunity for an experienced manufactured housing operator to acquire a property in the greater metro-Indianapolis market with significant value add upside. Located in Muncie, Indiana, part of Delaware County, the property totals 100 MH sites serviced by city water and sewer. All utilities, including water, sewer, electric, and trash, are direct billed by the utility provider. Positioned near Ball State University, the revitalized downtown district, and major local employers/shopping centers, the community draws consistent demand from both long-term residents and newcomers to the area. The property presents significant upside for a well-capitalized buyer, as the current occupancy is 48%. Of the occupied sites, over half (23 sites) are TOH with the remaining being POH rentals or LPOs. Average lot rent is $504 per month with comparable communities in the surrounding market averaging $516. The buyer is positioned with the opportunity to infill the community with new homes and drive occupancy as the greater submarket is well-occupied.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | MHC & RV Community |
| Price: | $4,190,000 |
| No. of Units: | 100 |
| Year Built: | 1947 |
| Lot Size: | 1.00 Acres |
| Opportunity Zone: | No |
| Price per unit: | $41,900 |
| Property Website | Click Here |
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