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).​