My husband and I somewhat stumbled on 4 MH parks for sale in our area. We were curious as to why there were so many for sale at once. Pop. approx. 30K. They are all in the county vs. city. The one we somewhat like seems like it’s priced accurately - $850K with 52 lots, 46 rented, single wides, could use some junk removal and storage bldgs. but not too bad for a MH park, current rent (supposedly was $295 and raised to $325 due to recently converted to new city water and sewer lines). I am a realtor so I am thinking that with foreclosures and home prices being so low, that people are just opting to purchase single family homes instead of paying for MH, lot rent, etc., etc.
Also, can you even purchase new single wides? From what I’ve read you can only purchase from one mfg (Clayton) but I presume you can get used ones…
We do have rental property + I have managed large apt. communities for several years and we have rehabbed various homes/apt. bldgs. so we are aware of mgmt. needs.
Just trying to gather information to see if a MH concept is a wise purchase during these economic times and beyond or will MH parks be phased out due to better, other options out there?