Contact Information
Mobile Home Park Details
- Price: $8,000,000
- Property ID: 1543579
- Posted On: Oct 27, 2021
- Updated On: May 13, 2022
Property Description
https://estersonmhcteam.com/property/mobile-home-park-portfolio-pittsburg-pa
Contact Parker Kelly for more information
The Esterson MHC Team is pleased to present the 4 Park Portfolio in Pittsburgh, PA MSA. The portfolio consists of 219 lots, with a tremendous amount of upside within this value-add opportunity. The communities are all located about 30 miles from the center of Downtown Pittsburgh.
The communities have 219 total mobile home lots, 1 single family home, 10 apartments and 1 commercial space. The lot rent only tenants currently pay an average lot rental rate of $372 per month, which is below current market rent. The market rent is based on a rent comparable survey.
All parks are year-round, all-ages communities. Colonial and Skyview are all serviced by a private well and septic system (1:1 and 1:3) that is billed back to the tenants. Chaucer is serviced by public water and sewer and is billed back to the tenants. Luxor is serviced by public water but private sewer treatment plant which is operated by a third party and is billed back to the tenants. There are no flood zones or opportunity zones within any of these parks.
The Pittsburgh MSA has a tremendous base of headquarter operations for U.S. and foreign companies within a variety of industries. These include Alcoa, HJ Heinz, PNC Bank, PPG Industries, Mellon Bank, US Steel, Allegheny Technologies, Wesco, Bayer North America, GlaxoSmithKline, American Eagle Outfitters and General Nutrition Centers. The state’s population grew 1.50% from 2010 to 2019 and has over 13 million residents (5th most populated state).
Park Information
Community Type: | All Age |
Number of MH Lots: | 219 |
Average MH Lot Rent: | $372 |
Size: | 89 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 11 |