American & Redwood Mobile Home Parks 2000 E 29th St 63 Unit Mobile Home Park $850,000 ($13,492/Unit) 8% Cap Rate Muncie, IN 47302
EXECUTIVE SUMMARY
Two Mobile Home Parks: American & Redwood Mobile Home Parks – Muncie, IN Presenting a rare chance to acquire two stabilized mobile home communities—American and Redwood Mobile Home Parks—located in Muncie, Indiana.
These adjacent parks offer a total of 61 Units with 58 Lots (28 Tenant owned, 15 Vacant Park Owned Homes, 15 Vacant Lots), a two bedroom house, a large shop, two commercial buildings, delivering strong in-place cash flow and long-term upside potential.
Utilities: All tenants are individually metered and billed directly by utility providers for water, sewer, electricity, and gas—minimizing owner expenses and enhancing operational efficiency.
Infrastructure On-site management potential Public utility connections (no private well/septic)
City trash pickup Prime Location: Conveniently located near local schools, retail centers, and major employers in Muncie, a city anchored by Ball State University and IU Health Ball Memorial Hospital. This is a stable rental market with consistent tenant demand and upside in occupancy and rents. Investment Highlights:
Cap Rate: 8.5 currently. In June it will be over 10 when increasing rent.
Lot rent in Redwood MHP: Average $350
Lot rent in American MHP: Average $275
Recent Sewer upgrades in both Parks Individually billed utilities Value-add potential through infill, rent increases, or improved management Cap rate and financials available upon request These parks represent a turn-key investment or an ideal addition to a growing manufactured housing portfolio.
Contact us today to receive the full offering memorandum, rent roll, and financials. Send all Offers!
**For Sale By Owner** Please email Barkertranrealty@gmail.com for any questions
These adjacent parks offer a total of 61 Units with 58 Lots (28 Tenant owned, 15 Vacant Park Owned Homes, 15 Vacant Lots), a two bedroom house, a large shop, two commercial buildings, delivering strong in-place cash flow and long-term upside potential.
Utilities: All tenants are individually metered and billed directly by utility providers for water, sewer, electricity, and gas—minimizing owner expenses and enhancing operational efficiency.
Infrastructure On-site management potential Public utility connections (no private well/septic)
City trash pickup Prime Location: Conveniently located near local schools, retail centers, and major employers in Muncie, a city anchored by Ball State University and IU Health Ball Memorial Hospital. This is a stable rental market with consistent tenant demand and upside in occupancy and rents. Investment Highlights:
Cap Rate: 8.5 currently. In June it will be over 10 when increasing rent.
Lot rent in Redwood MHP: Average $350
Lot rent in American MHP: Average $275
Recent Sewer upgrades in both Parks Individually billed utilities Value-add potential through infill, rent increases, or improved management Cap rate and financials available upon request These parks represent a turn-key investment or an ideal addition to a growing manufactured housing portfolio.
Contact us today to receive the full offering memorandum, rent roll, and financials. Send all Offers!
**For Sale By Owner** Please email Barkertranrealty@gmail.com for any questions
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 63 | $400.00 | - |
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PROPERTY TAXES
| Parcel Number | 18-11-26-102-007.000-003 | Improvements Assessment | $119,400 |
| Land Assessment | $19,900 | Total Assessment | $139,300 |
