The Esterson MHC Team is pleased to present Marysville MHP, a 23-unit manufactured housing community located in Altavista, Virginia.

This community offers a stable cash-flowing asset with significant upside potential through rent optimization and operational improvements. The park is well-positioned in a desirable region of Virginia, known for its growing population and demand for affordable housing.

Altavista is part of the Lynchburg MSA, which is characterized by a balanced mix of industrial, healthcare, and educational employment sectors. The region benefits from strong demand for affordable housing, driven by a mix of families, retirees, and workforce housing needs. With limited new affordable housing supply, manufactured housing communities like Marysville MHP continue to provide a compelling investment opportunity.

Marysville MHP is comprised of 23 total units, including 14 tenant-owned homes (TOH), 3 rent-to-own (RTO) units, and 2 vacant park-owned homes (POH) that present immediate upside through infill and lease-up. Additionally, there are 3 vacant mobile home lots available for future infill, further enhancing the park’s revenue potential. The average lot rent for tenant-owned homes is $415, while RTO homes average $361.67 per month above lot rent. These rates are significantly below market, providing a clear opportunity for future rent growth.

The park is serviced by public water and private septic sewer, with water and sewer costs included in rent. Trash service is provided via dumpster and is included in rent, while tenants pay directly for electric, gas, and cable services. The roads within the park are private and maintained by the owner, ensuring a clean and organized community environment. The park is not in a flood zone or an opportunity zone.

Marysville MHP is being offered at $800,000. There is significant upside potential through infill of the vacant POH and mobile home lots, as well as by optimizing rents to market rates. The park’s current infrastructure is well-maintained, providing stable operations with minimal deferred maintenance.

This value-add opportunity offers investors a strong entry point into the Virginia market, with stable in-place cash flow and multiple avenues for revenue growth. Investors are invited to submit their best offers. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence items required from ownership, and relevant real estate experience.

Broker Info:
Brian Hosey – Marcus & Millichap
7200 Wisconsin Ave., Suite 1101, Bethesda, MD 20814
P:  (202) 536-3700
Lic #: 0225247494