South Park MHP
8.39% Cash-on-Cash, Attractive Seller Financing, Infill Opportunity
Marketing description
The MHP Value Team is pleased to offer for sale South Park MHP, a 31-site mobile home community located in Moundsville, West Virginia.
The community currently generates $103,291 in gross income, offering a new investor an 8.39% day one cash on cash return. The park currently includes twelve tenant-owned homes with an average lot rent of $213/m, eight occupied Park-Owned Homes at an average of $717/m, three homes that need to be demoed, five vacant homes, and three vacant lots with infrastructure.
South Park MHP involves infilling the vacant lots and rehabbing the vacant homes, while continuing to push collections and lot rents toward market rate over time. This offering gives a new investor the chance to acquire a community with attractive seller financing in place, creating immediate runway to optimize operations and unlock additional income.
Investment highlights
- Strong Day One Returns - The property delivers an 8.39% day one cash on cash return on $103,291 in gross income, offering immediate cash flow from acquisition.
- Below Market Rents - Current lot rents average $213/m and Park-Owned Home rents average $717/m, both with room to grow toward market rates, providing a straightforward value-add lever for a new operator.
- Infill Opportunity - With three vacant lots ready for infill and five vacant homes available for rehab, there's a clear path to increasing occupancy and revenue
- Attractive Seller Financing - This offering gives a new investor the chance to acquire a community with attractive seller financing in place, creating immediate runway to optimize operations and unlock additional income
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