Contact Information

Todd Fletcher

ARA MHC Group

Mobile Home Park Details

  • Price: $2,400,000
  • Property ID: 1162598
  • Posted On: Dec 10, 2019
  • Updated On: Dec 10, 2019

Property Description

**NOW PRICED - $2,400,000**

• 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 65% 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

Number of MH Lots: 94
Size: 47.5 acre(s)

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