Chapel Dr - Manufactured Housing/Mobile Housing FOR SALE


Pine Grove, PA 17963
$950,000 USD
484-330-0185
Chapel Dr, Pine Grove, PA for Sale
$950,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/15
null | 8.66% Cap Rate

Chapel Dr
Pine Grove, PA 17963


HIGHLIGHTS

  • Hands off Investment Property.
  • Potential Rent Increases.
  • Potential Increase In Park units with Municipality approval.

OVERVIEW

Forced appreciation of $245k+ ready for the next investor. Lot rents are well below market and water/sewer are not yet billed to tenants. The community is located at 1 Fidler Court, Pine Grove, PA 17963. This 15 lot mobile home park, situated on 4.16 acres has two vacant lots that are currently being infilled with new homes (3 bed, 2 full bath). Infill will be complete in early September and leased shortly thereafter. One new unit will be sold by the dealer and the other unit will either remain park-owned or sold for $100k. Any investor under contract will have the option to hold this home, sell prior to closing or sell after closing. If the park-owned home is sold prior to closing, the cost of the park will be reduced by $100k. The remaining 13 lots are all tenant-owned homes, ensuring a steady income stream with low maintenance and tax expense. The current owner will provide a comprehensive list of reliable vendors who service the park to ensure seamless management transition day one. Recently installed UV water filters on all three wells, brand new pressure tanks on two wells, new riser on one well and new lids on two wells. Septic systems were recently pumped and inspected and both minor recommendations have been addressed. Don't miss the opportunity to own this lucrative property with substantial appreciation primed. Grow your wealth by taking advantage of the overwhelming demand for affordable housing. Contact us today for more information including P&L, rent roll, etc.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$5 USD /SF

# OF UNITS

15

PRICE/UNIT

$63,333

CAP RATE

8.66%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fidler Court Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.16 AC

LAND SF

181,210 SF

ZONING

-

APN/PARCEL ID

21-04-0005.002

ASK ABOUT THIS PROPERTY

Mike DorneyWeichert RealtorsMore Info
484-330-0185

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Mike DorneyWeichert RealtorsMore Info
484-330-0185

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.