Glenwood Mobile Home Park
5676 Old Porter Rd | Portage, IN 46368, US
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We are pleased to offer for sale Glenwood MHP, a 204 site mobile home community located in Portage, IN. The community currently includes 40 lot renters paying $475/month, 1 rent-to-own tenant paying $775/month, 1 single-family home tenant paying $1, 100/month, and 1 vacant apartment building. There are also 36 abandoned homes and 125 vacant sites. To be clear, this is an infill-type opportunity priced based on the value of existing infrastructure. The park is priced at $15, 000 per site—well below the true development cost of building a community of this size from the ground up. This park is well positioned for an operator with development experience to revitalize the asset. The investment strategy would include trimming overgrown trees, patching roads, repairing water lines in one section of the park, and demolishing the remaining abandoned units on the property. While we have identified select units that are salvageable and can be sold via bill of sale, the ideal operator would leverage the opportunity to bring in new homes in bulk to infill the community. This is a rare opportunity to acquire a 204-lot park centrally located in one of Indiana’s strongest metros, at a price well below replacement cost.
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Portage, Indiana, is a small city in northwestern Indiana, within Porter County. It’s one of the larger communities in the region, near Lake Michigan and Indiana Dunes National Park. With a population of about 38, 000, Portage offers a tight-knit community that’s part of a 9.6 million-person metro area, which has grown roughly 15% since 2000. Founded in the early 19th century, Portage developed as a transportation and industrial hub, benefiting from major rail lines and proximity to shipping routes. While historically tied to steel and freight, its economy has diversified. Today, job growth is rising across sectors—especially in manufacturing, healthcare, and education—along with emerging tech investment, including a new $11 billion data center being built 30 minutes east by Amazon. The median household income is slightly below the national average, contributing to affordability challenges for some families. Housing costs remain relatively low, with a median home price of $286, 200 and average rents for a two-bedroom unit at $1, 040. Still, affordability is strained by modest incomes and aging housing stock. New manufactured homes—ranging from $70K to 100k for single-wides and up to $150K for double-wides—present a growing opportunity to meet local housing needs. In summary, Portage is a historically industrial city with strong regional ties and growing economic momentum. As population and investment continue to rise, expanded affordable housing options will be key to sustaining inclusive growth.