Chapel Dr - Manufactured Housing/Mobile Housing FOR SALE


Pine Grove, PA 17963
$850,000 USD
484-330-0185
Chapel Dr, Pine Grove, PA for Sale
$850,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/15
null | 8.12% 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 $450k+ 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 recently been infilled with two brand new homes (3 bed, 2 full bath). These homes will be leased up in the next few weeks at which point the community will be at 100% occupancy. Both new homes are being sold to new tenants and the lot rents are $600/month. 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. Recent infrastructure and property maintenance in the amount of $55k have been completed in preparation for the sale. There are recently installed UV water filters on all three wells. There are brand new pressure tanks, new risers and lids on two wells. Septic systems were recently pumped and inspected and both minor recommendations have been addressed. Foundations have been poured and infrastructure relocated to accommodate the infill of two new homes. A number of trees have been felled that were within reach of structures and that posed a potential risk. 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

$850,000 USD

PRICE/SF

$5 USD /SF

# OF UNITS

15

PRICE/UNIT

$56,667

CAP RATE

8.12%

% 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

Michael DorneyWeichert RealtorsMore Info
484-330-0185

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Michael DorneyWeichert RealtorsMore Info
484-330-0185

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