Contact Information

Todd Fletcher


Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1142519
  • Posted On: Oct 8, 2019
  • Updated On: Oct 8, 2019

Property Description

• Located in the Potomac Highlands of West Virginia just 15 minutes outside of Cumberland, MD, Moreland MHC has 94 sites spread across nearly 50 acres giving the park a more suburban neighborhood feel with plenty of green space.
• Most of the sites are situated atop a ridge providing residents incredible views of the rolling hills surrounding the community.
• There is a high demand for affordable housing in the area as evidenced by 88% occupancy on rental homes.
• Current owner recently brought in 10 brand new homes to the property and has been focused on selling these. A new owner could rapidly grow occupancy by renting these homes as either LPO’s or pure rentals. Used homes also are in high demand as sales at a lower price point.
• Owner has spent significant capex dollars on a new office as well as repairing roads at the park.
• Value-add opportunity to increase utility billback. The current owner recently fixed a major leak, is bringing the base pass through up to market levels, and was having issues with meters not being read due to poor cell signal in the area. They will be installing a reader system to eliminate the need for cell signal at this community to increase recovery.

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Park Information

Community Type: All Age
Number of MH Lots: 94
Total Occupancy: 65.0 %
Year Built: 1970
Average MH Lot Rent: $315
Size: 47.5 acre(s)

Park-Owned Homes

Number of Park-owned Homes: 44

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