501 32nd Street - Beechwood Estates 20 Unit Apartment Building Offered at $925,000 at a 11.37% Cap Rate Parkersburg, WV 26101

Beechwood Estates Mobile Home Park is a well-located, city serviced community situated at 501 32nd Street in Parkersburg, West Virginia, just a few blocks west of Murdoch Avenue and within close proximity to Grand Central Mall. Murdoch Avenue serves as one of Parkersburg’s primary commercial corridors, carrying approximately 35,000 vehicles per day, and provides residents convenient access to national retailers, grocery stores, restaurants, and service-oriented businesses. Major destinations, including Walmart Supercenter and other national chains, are located within approximately one mile of the property, supporting strong tenant convenience and long-term occupancy.
The park occupies approximately 0.99 acres and is believed to have been developed around 1970. It is properly zoned for mobile home park use and is not located in a flood zone, which is a meaningful advantage for both operational stability and financing considerations. The current owner has held the property for approximately four years and operates the community with an onsite manager and maintenance personnel, providing consistent oversight and responsive day-to-day management.
Beechwood Estates consists of 20 total pads, each approximately 14’ x 60’, with 18 currently occupied. There are no vacant pads and no homes requiring removal due to condition. The community includes four park-owned homes, two of which are currently vacant, eight rent-to-own homes, as well as eight tenant-owned homes. During the current ownership period, four homes have been renovated, and when asked about future capital improvements, ownership indicated plans to renovate the remaining two park owned units. The owner holds clear titles to all park-owned homes.
The average rent for park-owned homes is approximately $800 per month, while pad rent for tenant-owned homes averages $350 per month. Both home rents and pad rents were last increased in April 2024, suggesting potential for future rent adjustments as leases roll. The park operates on annual leases, and tenants remit rent electronically via Cash App, Venmo, and Zelle. Two tenants are currently behind approximately three months in rent, though both are actively catching up.
From an operational standpoint, Beechwood Estates benefits from a low-expense structure. The park is serviced by city water and city sewer, with PVC underground piping and individual electric, gas, and water meters at each pad. Electrical pedestals are believed to be 100-amp service. Park roads are city-maintained, snow removal is handled by the city, and tenants are responsible for mowing their own spaces. All utilities and garbage service are direct-billed to tenants, further limiting owner expense exposure.
The property is located within the Parkersburg–Wood County market, which serves as a regional employment center supported by healthcare, education, manufacturing, and government services. The area continues to exhibit steady demand for affordable housing, particularly in infill locations near retail and employment centers. New mobile home park development remains limited due to zoning and land constraints, supporting long-term occupancy and rental stability for existing communities.
There is no assumable financing associated with the property, and seller financing or stack/equity offers will not be considered.
MR. LANDMAN LLC is a licensed real estate entity in the State of West Virginia operating under Lic#010406-00. Jonathan Fisher is a licensed broker in the State of West Virginia operating under Lic#WVB260301161.

LOCATION:
Parkersburg is a city in Wood County, West Virginia, and its county seat. Located at the confluence of the Ohio and Little Kanawha rivers, it is the state's fourth- most populous city and the center of the Parkersburg–Vienna metropolitan area. The city's population was 29,749 at the 2020 census, and its metro population was 89,490.
The median home cost in Parkersburg is $133,400. Home appreciation the last 10 years has been 51.3%. Home Appreciation in Parkersburg is up 9.1%.
Renters make up 33.8% of the Parkersburg population.
2.8% of houses and apartments in Parkersburg, are available to rent.
The average 1-bedroom unit rents for $700/month.
The average 2-bedroom unit rents for $830/month.
The average 3-bedroom unit rents for $1,130/month.
The average 4-bedroom unit rents for $1,190/month.
Parkersburg has an unemployment rate of 4.5%. The US average is 6.0%.
Future job growth over the next ten years is predicted to be 17.9%.
The average income of a Parkersburg resident is $24,262 a year.
The US average is $37,638 a year.
Parkersburg violent crime is 28.4. (The US average is 22.7)
Parkersburg property crime is 59.6. (The US average is 35.4)
Here are the ten largest employers in Wood County, WV:
•WVU Medicine Camden Clark Medical Center – 2,275 employees
•Bureau of the Fiscal Service – 2,000 employees
•Wood County Schools – 1,714 employees
•Washington Works (Chemours/DuPont/Kuraray) – 1,522 employees
•Walmart – 633 employees
•Wincore – 472 employees
•Westbrook Health Services – 426 employees
•Highmark West Virginia – 425 employees
•Hino Motors – 422 employees
•WVU Parkersburg – 318 employees