Investment Overview

Marcus & Millichap is pleased to present Mountain MHP, a 22-unit manufactured housing community located in Pikeville, Kentucky. This community offers a stable cash-flowing asset with significant upside potential through rent optimization and operational improvements. Nestled in the heart of Eastern Kentucky, Pikeville is a thriving Appalachian hub known for its rich cultural heritage, strong community spirit, and evolving economic landscape. Rooted in coal mining, Pikeville has transformed into a regional center for healthcare, education, banking and entertainment. It is anchored by institutions like the University of Pikeville and the Pikeville Medical Center—one of the largest hospitals in the state, and is home to the 3rd largest banking community in Kentucky. Pikeville also boasts a large entertainment scene with the Appalachian Wireless Arena and hosts the second largest festival in Kentucky, attracting more than 100,000 people annually. Pikeville offers a unique blend of small-town charm and forward-looking development, making it an ideal location for long-term investment. Mountain MHP comprises 22 total units, including 11 tenant owned homes (TOH), 3 rented park owned homes (POH), 7 rent to own homes (RTO) and 1 vacant RV lot. The average lot rent at the park is $280 and RTOs average $338 above lot rent. These rates are significantly below market, providing substantial upside opportunity for rent growth. The park is serviced by public water and public sewer, which is directly billed to the tenants. Trash is serviced by curbside pickup and billed directly to the tenants. The roads within the park are private and paved, maintained by the owner, and are in average condition. The park is partially in a flood zone with approximately 6 homes affected, and is in an opportunity zone. Mountain MHP is being offered at $800,000. There is significant upside potential through infilling one vacant RV lot and optimizing rents to market rates. This opportunity offers investors a stabilized cash-flowing asset with a clear path to revenue growth through rent optimization and infilling one RV lot. Investors are invited to submit their best offers which must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence items required from ownership, and relevant real estate experience.