Skip to main content

Mobile Home Park

Boswoods Estates

801 Center St, Boswell, PA 15531

Listing Price: $1,699,000

Cap Rate
2.20%
Number of Spaces
119
Lot Size
66.62 acres
Occupancy
13.4%
Price/Space
$14,277
Spaces/Acre
1.79
Year Built
1980

Investment Overview

We are pleased to present Boswoods Estates, a manufactured housing community investment with 122 lots. This cash-flowing high-quality asset has multiple upside opportunities including occupancy upside, rent growth and home sales. This beautifully maintained community is situated between Pittsburgh and Harrisburg, the state’s capital, providing residents with a rural atmosphere while being near two major MSA’s in PA. The state’s population has over 13 million residents (5th most populated state. Boswoods Estates is in Somerset County (Johnstown-Somerset PA MSA, population is 207,601, an area known or being a nice place to retire. The average age o the population is 52 years old. The community has been strategically built around this market and provides its tenants a best-in-class lifestyle community near major population centers. The community has 122 approved MH lots including 16 lots currently rented with 3 TOH and 13 POH tenants and 106 vacant lots. O the 106 vacant lots, 21 lots are nearly home ready and the remaining 85 lots will need to be further developed. All lots can accommodate double-wide units. A feasibility study was done in April 2022. Based on its findings the costs for installing the remaining utilities should be very reasonable. The lot rent only tenants currently pay an average lot rental rate o $418 per month, which is below the current market rent. The overall market can support substantially higher lot rents based on limited affordable housing supply and growing demand in this market. There are 13 park owned homes. Nine are mostly newer double-wide units, three are 2017 single-wide units, one is a 1991 single-wide. Tenants are directly billed or public water, sewer, trash, and electric utility systems. All systems are in good working order. Most roads are paved. Some roads in the approved expansion area have not been completed. Amenities include hiking trails, basketball courts and a gazebo for social gatherings. No part of the park is not affected by a flood zone.

Investment Highlights

  • High Quality Value-Add MHC
  • Directly Billed Utilities (W/S/T/E/C)
  • Mostly Newer POH

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Mobile Home Park

Boswoods Estates

Listing Price: $1,699,000

Cap Rate
2.20%
Number of Spaces
119
Lot Size
66.62 acres
Occupancy
13.4%
Price/Space
$14,277
Spaces/Acre
1.79
Year Built
1980

Investment Highlights

  • High Quality Value-Add MHC
  • Directly Billed Utilities (W/S/T/E/C)
  • Mostly Newer POH

Investment Overview

We are pleased to present Boswoods Estates, a manufactured housing community investment with 122 lots. This cash-flowing high-quality asset has multiple upside opportunities including occupancy upside, rent growth and home sales. This beautifully maintained community is situated between Pittsburgh and Harrisburg, the state’s capital, providing residents with a rural atmosphere while being near two major MSA’s in PA. The state’s population has over 13 million residents (5th most populated state. Boswoods Estates is in Somerset County (Johnstown-Somerset PA MSA, population is 207,601, an area known or being a nice place to retire. The average age o the population is 52 years old. The community has been strategically built around this market and provides its tenants a best-in-class lifestyle community near major population centers. The community has 122 approved MH lots including 16 lots currently rented with 3 TOH and 13 POH tenants and 106 vacant lots. O the 106 vacant lots, 21 lots are nearly home ready and the remaining 85 lots will need to be further developed. All lots can accommodate double-wide units. A feasibility study was done in April 2022. Based on its findings the costs for installing the remaining utilities should be very reasonable. The lot rent only tenants currently pay an average lot rental rate o $418 per month, which is below the current market rent. The overall market can support substantially higher lot rents based on limited affordable housing supply and growing demand in this market. There are 13 park owned homes. Nine are mostly newer double-wide units, three are 2017 single-wide units, one is a 1991 single-wide. Tenants are directly billed or public water, sewer, trash, and electric utility systems. All systems are in good working order. Most roads are paved. Some roads in the approved expansion area have not been completed. Amenities include hiking trails, basketball courts and a gazebo for social gatherings. No part of the park is not affected by a flood zone.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

MM Texture Background
MM Textured Background Lower