503-217-2444 info@northpeakdev.com

Lake Arthur Estates

Mobile Home Community
Remington, Indiana

Lake Arthur Estates is the sole mobile home community in Remington, Indiana and is one of only six communities in Jasper County. Lake Arthur has 46 operational spaces.

As with all of the mobile home communities that we target within our business model,we have a significant value-add opportunity within the first 36-months of operation.

Project Info

The strategy for stabilization in this park are as follows: infill vacant lots, convert park-owned homes into owner-occupied homes, renovate vacant park-owned homes, and bill back water/sewer expenses directly to the residents via Metron digital water meters. Infrastructure updates will occur within the first three months of ownership.

 

Estimated Project Cost: $600,000
Estimated Value at Stabilized 7.5% Cap Rate: $1,524,340

 

Project Name: Lake Arthur Estates Mobile Home Community

Location: Remington, Indiana

Asset Type: Mobile Home Community

Status: Owned by NPD

Aquisition Date: 11/15/2020

Licensed Spaces:  46

Equity Partner:  Funded

Project Stabilization: 24-36 Months

Property Management: Vertical / Push Property REI LLC

 

Invest With Us

Interested in investing? North Peak Development offers a variety investment options at different phases of each project. Click on the button below to be taken to our investment portal, or read below to understand how each phase works.

Additional Mobile Home Projects

Water Tower

Mobile Home Community

Morristown, Indiana

Water Tower Mobile Home Community (MHC) provides a value add investment opportunity for North Peak Development Group (NPDG) and partners. The existing community is well laid out and was kept fairly clean but several inefficiencies limited the maximum potential of the community prior to our acquisition. This is a great opportunity.

Fairview Village

Mobile Home Community

Osgood, Indiana

Fairview Village is a mobile home community located in Center Township and the Town of Osgood, Indiana. The community contains 47 operational spaces and sits on 13.1 acres of land. The community is zoned for 66 spaces by the State of Indiana and our goal is to develop the existing land to maximize the community zoning.

Let's Build Something

info@northpeakdev.com

333 S State Street
Suite V-158
Lake Oswego, OR 97034
+1 503-217-2444

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