Skip to main content

Mobile Home Park

Oakgrove Mobile Home Community

1553 E McKinley Ave, Mishawaka, IN 46545

Listing Price: $2,208,000

Cap Rate
1.00%
Number of Spaces
116
Lot Size
9.46 acres
Occupancy
41.0%
Price/Space
$19,034
Spaces/Acre
12.26
Year Built
1954

Investment Overview

Oakgrove Mobile Home Community is a 116-site park located in Mishawaka, Indiana. The community is situated on 9.46 acres and is comprised of 104 lot rents of which about 68 are vacant pads and 12 park owned homes. The property currently operates on city water and sewer and the tenants are responsible for all utilities. The current manager is open to staying on board for future ownership. The price for the park is $2,088,000 plus $120,000 for the 12 park-owned homes for a total list price of $2,208,000. Mishawaka, Indiana is a city that rests on the St. Joseph River and is known as the “Princess City.” The city offers its residents and visitors many local attractions including the Potawatomi Zoo, the Mishawaka River Walk, Potato Creek State Park, access to South Bend’s University of Notre Dame, and the Studebaker National Museum. The major employers in the area include the University of Notre Dame, MSM Holdco, LLC, Beacon Medical Group, Press Ganey Associates, and AM General. There are also 11 universities and colleges nearby. According to Mishawaka.in.gov, “population growth, business expansion and record-breaking new construction tell us that people want to live, work, raise their families and retire in Mishawaka. Unlike many communities, Mishawaka has consistently grown in population, capital investment and assessed value for several years.” Oakgrove Mobile Home Community is located right off the major highway US-20 Business which leads right into South Bend and is less than ten minutes from the local Liberty Elementary School and the Walmart Supercenter. The asset is also less than 30 minutes from South Bend International Airport. This opportunity has great upside for a potential investor to increase occupancy and stabilize the property.

Investment Highlights

  • Price Per Site of $18,000
  • City Water and Sewer
  • Opportunity to Infill Vacant Lots
  • Located Outside South Bend, Indiana

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Mobile Home Park

Oakgrove Mobile Home Community

Listing Price: $2,208,000

Cap Rate
1.00%
Number of Spaces
116
Lot Size
9.46 acres
Occupancy
41.0%
Price/Space
$19,034
Spaces/Acre
12.26
Year Built
1954

Investment Highlights

  • Price Per Site of $18,000
  • City Water and Sewer
  • Opportunity to Infill Vacant Lots
  • Located Outside South Bend, Indiana

Investment Overview

Oakgrove Mobile Home Community is a 116-site park located in Mishawaka, Indiana. The community is situated on 9.46 acres and is comprised of 104 lot rents of which about 68 are vacant pads and 12 park owned homes. The property currently operates on city water and sewer and the tenants are responsible for all utilities. The current manager is open to staying on board for future ownership. The price for the park is $2,088,000 plus $120,000 for the 12 park-owned homes for a total list price of $2,208,000. Mishawaka, Indiana is a city that rests on the St. Joseph River and is known as the “Princess City.” The city offers its residents and visitors many local attractions including the Potawatomi Zoo, the Mishawaka River Walk, Potato Creek State Park, access to South Bend’s University of Notre Dame, and the Studebaker National Museum. The major employers in the area include the University of Notre Dame, MSM Holdco, LLC, Beacon Medical Group, Press Ganey Associates, and AM General. There are also 11 universities and colleges nearby. According to Mishawaka.in.gov, “population growth, business expansion and record-breaking new construction tell us that people want to live, work, raise their families and retire in Mishawaka. Unlike many communities, Mishawaka has consistently grown in population, capital investment and assessed value for several years.” Oakgrove Mobile Home Community is located right off the major highway US-20 Business which leads right into South Bend and is less than ten minutes from the local Liberty Elementary School and the Walmart Supercenter. The asset is also less than 30 minutes from South Bend International Airport. This opportunity has great upside for a potential investor to increase occupancy and stabilize the property.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

MM Texture Background
MM Textured Background Lower