Hickory Farms Mobile Home Park
Mobile Home Park | 5.60% CAP | 35 Pads
Marketing description
Hickory Farms MHP - 260 Woolton Rd, Wernersville, PA 19565
Located in the rolling hills of Central PA, a rare opportunity to acquire a park owned by the same owners since 1999. The 35-lot park has 100% occupancy and zero park owned homes. The Park is serviced by Well Water and has had some upgrades in the past few years. The Park is serviced by Public Sewer. The lots have been laid out spaciously on a 10-acre landscape. Unlike other parks where homes are cramped, this community offers residents tons of privacy and breathing room. There is immense demand for lots in the park, and resident owned homes frequently sell quickly. There is little management involved, and the park is operated by the current ownership which own and manage several large shopping centers in Central PA.
Investment highlights
Lot Rents are significantly below market averaging $490 for Doublewide Homes and $470 for Singlewide Homes whereas Market averages are $550-$600 per lot including water and sewer rates.
Landlord pays for water and sewer for all park residents; there is immense upside to install separate meters for each home and bill back Tenants.
100% occupancy for the past 25 years.
Future Landlord can buy homes from park residents when they come up for sale and “remodel and flip” homes or rent to increase cash flow
Limited Management needed
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