Myers MHC
Myers MHC I Public Utilities I 6 Lots I 5 POHs I 11.27% Cap Rate
Marketing description
The MHP Value Team is pleased to offer for sale Myers MHP, a 6-site mobile home community located in Hancock, Maryland.
The community has one lot renter and five POH rentals with gross lot rent at $550 and POHs renting for $1.,058 on average. All POHs have been fully renovated.
The community is served by public water and sewer, both billed back directly to tenants. Current owners installed new 200 amp electrical service at each site and recently repaved the roadways.
The investment strategy for this community centers around benefiting from the existing high cash flows of the asset or selling off the park owned home and converting them to rent to owns over time to reduce expenses further.
An investor has the opportunity to purchase a turnkey operation to enter into the MHP space or add to an existing portfolio at an 11.27% Cap Rate and 16% Cash on Cash return.
Investment highlights
Priced at an 11.3% Cap Rate and 16% Cash on Cash return. Perfect park to start your mobile home park investing journey or an easy cash cow addition to an existing portfolio
Recent Capex includes newly resurfacd asphalt roads and new 200amp electrical service
80's Vintage POHs are fully renovated. See picture on left.
Fully occupied and located in a strong metro with high demand for affordable housing. Hagerstown Metro has a population of 291K and Median home price of $267K
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