fbpx
$Unpriced

30 Park Portfolio – 8 States

I am...(Required)
Agreed to and Accepted by:(Required)

The Esterson MHC Team of Marcus & Millichap, alongside Jonathan McClellan and Kyle Baskin, are excited to present a unique investment opportunity to acquire a portfolio of 30 manufactured housing communities (MHCs) strategically located across Indiana, Ohio, Kentucky, North Carolina, South Carolina, Georgia, Louisiana, and Texas. This extensive portfolio comprises 3,389 sites with an 81% occupancy rate and approximately 650 park-owned homes (589 in place and 62 new in 2024).

Key Investment Highlights:

  • Diverse Geographic Spread: The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
  • Significant Scale: The portfolio’s 3,389 sites offer substantial scale, enabling economies of scale in management and operations, enhancing the overall investment’s stability and potential for growth.
  • Strong Occupancy Rate: With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy, presenting a value-add opportunity.
  • Limited Park-Owned Homes: Only approximately 650 of the homes are park-owned, with a substantial amount being brand new. This reduces maintenance responsibilities and costs associated with owning and managing a large number of homes. It also allows for potential conversion to tenant-owned homes, further increasing cash flow and decreasing operational expenses.

This portfolio offers a compelling opportunity to invest in a diverse, scalable, and income-generating asset class. With immediate cash flow, value-add potential, and geographic diversification, this investment aligns well with strategies aimed at long-term growth and income stability in the affordable housing market.

Offering Materials

Details

Price : $Unpriced
Lots : 3,389
# of Parks : 30
Investment Type : Value-Add
Property Type : MHP
Status : On-Market
MSA/ST : SC, NC, KY, LA, TX, IN, GA, OH
Tenants : 2,736
Utility : Mixed
POH : 589
Occupancy Rate : 81%
Current Average Lot Rent : $482
Gross Income (All Income Sources) : $16,205,161
Deal # : 1274
Property ID : 11056

Find on Map

Glenn Esterson

Compare Listings

Title Price Status Type Area Purpose Bedrooms Bathrooms