Altoona 3 Park Portfolio

Altoona 3 Park Portfolio

Altoona, PA
Available
  • Property Type: Manufactured Housing
  • Property Size: / 16.36± Acres / 145 Sites
  • Price: $3,900,000

Overview

Capstone Manufactured Housing is pleased to present the Altoona 3 Park Portfolio. This portfolio features 145 sites across three communities: Blair MHP, Princeton Heights North, and Princeton Heights South. The communities are strategically positioned less than 30 minutes apart and provide immediate scaled entry into the Altoona MSA.  The proximity of these communities allows ownership to benefit from shared staffing, helping to reduce costly management oversight and expenses. Current ownership has made significant improvements to the properties, enhancing the overall curb-appeal, and bringing in newer homes. The portfolio is currently operating at an economic occupancy of 42% and features below market rents–providing tremendous value-add in the form of future rents and occupancy upside. This offering presents an opportunity to invest in a portfolio with scaled entry into the Altoona MSA, as well as rental upside and value-add opportunities.  

Investment Highlights

  • Scaled Entry into The Altoona MSA by Acquiring 141 Sites Across 3 Communities
  • Below Market Rents Allowing for Immediate Rental Upside
  • Substantial Upside Through Leasing Up Vacant Homes and Filling Vacant Sites
  • Shared Staffing Across Portfolio
    Limited Amenities for Management to Oversee or Maintain
  • Recent Capital Improvements



Contact Information

Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
Hunter LaRocca Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
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