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Capstone is pleased to present the Eastern Indiana Portfolio consisting of 88 sites across two communities: Connersville North and Connersville South. These two communities are in Connersville, Indiana, which places them about an hour outside of Indianapolis, Dayton, and Cincinnati. Conveniently, they are located within 3 miles each other, allowing for shared staffing and management. Additionally, they benefit from other operational efficiencies, including having almost entirely lot rentals, as well as public water, and sewer utilities. Currently operating at a 69% occupancy and nearly 0% delinquency, this portfolio features immediate upside in filling vacant sites along with rents that are approximately 20% less than the surrounding market competition. Furthermore, current ownership has also done a great job improving the curb appeal of the parks by completely repaving the roads, carrying out a hefty landscaping project, and successfully leasing up 3 vacant lots in the past year. This offering provides investors with an opportunity to acquire two communities with rental upside on day one and strong operational characteristics.
Upside In Filling Vacancy
Public Water & Sewer
Recent Capital Improvements
Majority Resident-Owned Homes
Close Proximity Allows for Shared Staffing
Direct Access to Indianapolis, Dayton, & Cincinnati