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1 Meadowbrook Acres 90 Unit Mobile Home Park $964,000 ($10,711/Unit) 7% Cap Rate Parkersburg, WV 26101
EXECUTIVE SUMMARY
90 Lot mobile home park located in Parkersburg WV, currently there are 30 occupied tenant owned homes, and 5 vacant park owned homes. Park operates on city water and sewer which are directly billed to the tenants. Current lot rent is 250/month, market lot rent is 350/month. The park that is right next door is 350/month lot rent, and is fully occupied. Park is located in a 100 year flood plain, however there hasn’t been any issues for the past 30 plus years, the city has upgraded the flood way which has majorly reduced the risk of flooding. Park is well laid out with asphalt roads. No owner financing offered. Park is properly zone to be a mobile home park.
PROPERTY FACTS
| Price | $964,000 | Apartment Style | Garden |
| Price Per Unit | $10,711 | Building Class | C |
| Sale Type | Investment | Lot Size | 10.75 AC |
| Cap Rate | 7% | Building Size | 39,600 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 30% |
| No. Units | 90 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $964,000 |
| Price Per Unit | $10,711 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Sale Condition | High Vacancy Property |
| No. Units | 90 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 10.75 AC |
| Building Size | 39,600 SF |
| Average Occupancy | 30% |
| No. Stories | 1 |
| Year Built | 1976 |
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Dixon Builders
1 Meadowbrook Acres
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