91-Unit, Cash Flowing & Value-add Manufactured Home Community.

The Esterson MHC Team is pleased to present Lynchburg Estates, an 91-unit manufactured home community with significant upside located in Lynchburg, VA. Lynchburg has approximately 78,973 residents, growing 25% YoY. The Lynchburg MSA has a population of 261,232 and is growing substantially. Lynchburg is well-positioned for future development initiatives, due to its proximity to Richmond and slightly further out Washington DC and North Carolina.

This community has 91 units with 90 active MH lots, 66 tenant owned homes, 3 vacant park owned homes, 1 commercial unit with a new 3 year NNN lease, and 21 vacant MH lots. The average lot rental rate is $365 per month. The market can support substantially higher lot and home rents based on limited affordable housing supply and growing demand in this market.

The park is serviced by wells and septic tanks which are maintained by the park and billed back to the tenant, all lots are sub-metered and charged according to municipal rates and actual usage. Curbside trash is also billed back to the tenants. The tenants are responsible for paying all utilities. All systems are in good working order. The privately maintained, paved roads are in average condition. There is currently an onsite manager that helps run the park.

This property should qualify for traditional recourse and bridge lending. Not all offers will get responded to. Interested parties are encouraged to write their offer with price, timeline, escrow amount and a list of DD requirements.