2 Locations

NEWPORT NEWS | VA BEACH, VA - The MHP Broker is pleased to offer two well-positioned mobile home parks located in Newport News and Virginia Beach, Virginia. With a combined total of 48 lots, this portfolio provides a unique chance to acquire established properties in high-demand coastal markets known for their strong economic growth. These areas benefit from robust population growth and a resilient job market, driven by industries such as military, tourism, and healthcare, which continue to fuel demand for affordable housing options like these mobile home parks.

Freedom MHC is a 33-pad community of coastal charm located in Newport News, VA. This community features 21 tenant-owned homes (TOH), 9 park-owned owned (POH), 2 RV lots, and a newly renovated 4 bedroom, 2 bath brick home. The park features city water and sewer on a master meter, as well as paved roads. Rents are strong, averaging $541 per month, and gross rental income exceeded $ 221,000 in 2024. With the rental bump in 2025, the gross should be over $250K. The current occupancy is at 97% and has been historically high given its superb location. A small portion of the property does reside on a land lease with CSX that has been in place since 84'. The property does not reside in a flood zone.

Creekside MHC is a well-positioned mobile home park located in the sought-after area of Virginia Beach, VA. The community consists of 15 lots, including 6 park-owned homes (POH), one of which is vacant, 6 tenant-owned homes (TOH), 2 vacant lots, and one single family home that is in need of renovation before renting. The lot rents are currently at $550, with room to increase to align with market. The park has paved roads and operates on a well and a septic system at a 2:1 ratio. Creekside is currently self-managed and offers a stable cash flow with significant upside potential for an investor looking to add value.

Offered at $2,650,000, this investment package provides investors to capitalize on the growing demand for affordable housing in these two markets. All the park-owned home inventory and SFHs will be included with the sale. No site visits shall be permissible without the Broker's knowledge. Please inquire for more details.