6029 E 200 N - Manufactured Housing/Mobile Housing FOR SALE


Monticello, IN 47960
$750,000 USD
260-615-9248
6029 E 200 N, Monticello, IN for Sale
$750,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/14
null | 8.88% Cap Rate

6029 E 200 N
Monticello, IN 47960


HIGHLIGHTS

  • Attractive In-Place Yield with Stabilized Cash Flow
  • Embedded Density Upside Through Pad Expansion
  • Durable Demand Drivers in a Constrained Housing Marke

OVERVIEW

Scenic View RV & Mobile Home Community is a stabilized manufactured housing and RV community located on a 7.06-acre site in Monticello, Indiana, near Lake Shafer, Lake Freeman, and the Indiana Beach corridor. The property consists of 20 existing pads operated under a land-lease structure with tenant-owned homes and RV occupancy. Municipal sewer service and utility-included lot rents reduce long-term infrastructure risk and support consistent operations. The community has an established operating history dating back to 1960 and benefits from a simple, low-maintenance infrastructure profile. Based on 2024 operating results, the property generates approximately $66,238 in net operating income, which equates to an in-place cap rate of approximately 8.3% at an $800,000 purchase price. Current lot rents remain affordable relative to regional housing alternatives, supporting stable occupancy and collections while preserving the ability for gradual rent normalization over time. The surrounding market is characterized by high homeownership rates and limited flexible rental inventory, reinforcing demand for manufactured housing and extended-stay accommodations. The investment is further supported by a diversified local demand base driven by tourism, manufacturing, utilities, healthcare, public services, and ongoing infrastructure and renewable energy projects throughout White County. Proximity to Indiana Beach and the Twin Lakes recreational area contributes seasonal demand, while workforce and contractor housing needs provide year-round occupancy stability. Additional upside exists through the potential expansion of approximately 15 additional pads on land already controlled by the ownership. Internal roads are in place and municipal sewer is available, allowing expansion to be approached as an infill development rather than a speculative land entitlement. Upon stabilization, additional pads at market rents have the potential to materially increase net operating income and improve overall operating efficiency, scale, and exit positioning.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$38 USD /SF

# OF UNITS

20

PRICE/UNIT

$37,500

CAP RATE

8.88%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Scenic View RV and Mobile Home Community

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.06 AC

LAND SF

307,534 SF

ZONING

A1

APN/PARCEL ID

91-73-15-000-000.900-020

ASK ABOUT THIS PROPERTY

Lane MoserEllsbury Commercial GroupMore Info
260-615-9248

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Lane MoserEllsbury Commercial GroupMore Info
260-615-9248

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.