Hancock Mobile Home Park (For Sale)
Hancock, Maryland · Mobile Home Park
About This Property
Myers MHC is a 6-site mobile home community located in Hancock, Maryland. The community has one lot renter and five POH rentals with gross lot rent at $550 and gross POHs renting for $1,058 on average. All POHs have been fully renovated. The community is served by public water and sewer, both billed back directly to tenants. Current owners have installed new 200 amp electrical service at each site and recently repaved the roadways. The investment strategy for this community centers around benefiting from the existing high cash flows of the asset or selling off the park owned home and converting them to rent to owns over time to reduce expenses further. An investor has the opportunity to purchase a turnkey operation to enter into the MHP space or add to an existing portfolio at an 11.68% Cap Rate and 17% Cash on Cash return.
Contact Information
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Location
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