Mobile Home Park Details

  • Price:
  • Purchase Method: Cash
  • Land: This is land for developing a mobile home park
  • Property ID: 153950
  • Posted on May 3, 2012

Property Description

Gihon Terraces is a 42 site All Family Mobile Home Community located in Parkersburg, WV. The investment was constructed in 1975 in Wood County on approximately 4.8 acres nestled in a valley across from a softball park and golf course. Parkersburg is located one hour north of Charleston between Interstate 77 and the Ohio River. The property is approved for 42 licensed lots where all sites are currently developed and 24 are currently occupied. City Water & Sewer. 3 BR Units rent for $450, 2BR for $350, lot rent for $150. Future occupancy increases can potentially triple the value of the asset providing tremendous capital appreciation to complement strong cash on cash returns.

The park is also complimented by a self-storage facility (2.3 acre) on one property line. This facility can be purchased separately or in conjunction with the park. An on-site office can be used to manage both properties.

Location

The properties are located one hour north of Charleston, the state capitol and just south of Parkersburg City jurisdiction and the Ohio River in business friendly Wood County. The topography of the properties slightly slopes up from Gihon Rd. Gihon Terraces is on the Pike Street Route of the Easy Rider public transportation system. The route starts in the center of Parkersburg and ends at the Southside Walmart before returning. Amenities such as a grocery store, banks, gas stations, shopping and restaurants are nearby.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 42
Total Occupancy: 30.0 %
Year Built: 1975
Average MH Lot Rent: $225
Size: 4.8 acre(s)

Lot Information

Singlewide Lots: 42
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $350

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