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Mobile Home Park Details

  • Price: $1,500,000
  • Property ID: 1452751
  • Posted On: Jun 4, 2021
  • Updated On: Jun 4, 2021

Property Description

The Williamson Manufactured Housing Advisors are pleased to present Boswoods Estates Manufactured Home Community, a pristine 90 Site Two Phase Development Opportunity that has an existing resident base and stabilized income stream. Phase 1 consists of 34 sites which includes 2 resident owned homes, 14 community owned rentals and 18 vacant sites that are ready to be developed. Phase 2 which is located above Quemahoning (pronounced “Que” Mahoning) Street is situated on 25.51 acres of flat wooded land and can support an additional 56 residents.

Boswoods Estates is located on Main Street in Boswell, Pennsylvania, a picturesque town that’s only 80 minutes from Pittsburgh and 15 minutes north of the City of Somerset which serves as the County Seat. Spanning more than 45 acres, Boswoods Estates is a prideful and serene community that includes amenities such as a security gatehouse, gazebo, basketball and volleyball courts, storage and maintenance facilities, paved roadways, off-street parking, and beautiful landscaping. Residents choose to live at Boswoods Estates for the quiet, suburban neighborhood feel. When touring the community, you’ll notice the pride of ownership from the current renters as well as from 15 residents that own their own home and parcel (not included in the sale). The infrastructure set up is ideal as all utilities are direct billed and paid by the resident. Water are sewer are serviced by the city, the electric is provided by Penelec and only a few sites have natural gas.

Demand in the immediate area is proven as UMH and a national top 50 owner are achieving 91% occupancy among three properties that average 123 sites. UMH’s Sunny Acres, a 205 site community has the highest rent at $442 and 93% occupancy and Somerset Estates (125 Sites) is achieving $430 site rent and is 80% occupied. Comparatively, Boswoods Estates has an average site rent of $393; however, the current owners have been able to rent three and four bedroom homes quickly at $900 and $999 total rent (site + home).

A new operator can enjoy the benefits of a 5 star turn key stabilized community that cash flows day one or in fill and rent the additional 18 undeveloped sites in Phase 1 to boost Total Gross Rents by $180,000 annually ($87,000 Site Rent and $93,000 Home Rent). Develop and in fill 56 sites in Phase 2 to achieve an additional $550,000 in Gross Rental Income or $886,000 Rental Income for all 90 sites.

Location

• Continue to Develop & In Fill Phase 1 to Grow Gross Income Above $330K
• City Utilities Billed Direct to Resident
• Large Sites (50’ X 120’) Can Accommodate DW or SW Homes
• Well-Manicured Landscaping & Evident Pride of Ownership
• Strong Rental Demand in the Area
• Average Lot Rent of $393
• 80 Miles to Downtown Pittsburgh
• 2002 Average Build Year of Community Owned Homes (four 2017’s and one 2016)

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Park Information

Community Type: All Age
Number of MH Lots: 90
Size: 45 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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