Bexley

2325 Allstate Dr, Petersburg, VA
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Investment summary

Total Lots115

Vacant Lots43

Tenant Owned Homes58

Occupied Park Owned Homes1

Rent-to-Own Homes13

Total Acreage20.83

Average Lot Rent$500

Offering Memorandum & Deal Room

Executive summary

BWE Investment Sales LLC (BWE) is pleased to offer the exclusive opportunity to acquire Bexley MHC. Bexley MHC is a 115-unit mobile home community located in Petersburg, VA, just 35 miles from the state capital of Richmond. The current average lot rent is $500, and the community is serviced by well, wastewater treatment plant, and curbside trash, all billed back to tenants. There is a value add opportunity for investors through rent increases and filling the vacant lots.

Bexley MHC’s location provides easy access to Interstate 95, offering residents proximity to numerous employment opportunities, retail options, and historic downtown Petersburg attractions.

    Bang Realty, Inc | Liscense No. 225245999

     

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    Investment highlights

    Convenient Location:

    Bexley MHC is in an ideal and convenient location, along Interstate 95. The community is just minutes from downtown Petersburg, which provides a plethora of shopping options, parks, eateries, and historical sites. Bexley MHC is also 35 miles from the state capital, Richmond.

    Value Add Opportunity:

    There is a value add opportunity for investors through rent increases and filling the vacant lots. There are currently 43 vacant MH lots for POH infill.

    Rent Increase Upside:

    Real opportunity to quickly raise rents by 10%+. Currently 63% leased with 43 vacant MH lots, new ownership has an opportunity to increase occupancy to 90%+ in a relatively short period of time and stabilize the park over 95% within a few years.

    Utilities:

    The community is serviced by well, wastewater treatment plant, and curbside trash. All utilities are paid for by the tenants.

    Utility Billing Structure

    • Water: Private - Well (Billed Back)
    • Sewer: Private - WWTP (Billed Back)
    • Trash: Curbside (Billed Back)
    • Electric: Public (Direct Bill)
    • Gass: Public (Direct Bill)

    Exclusively listed by

    Parker Kelly

    VP, Manufactured Housing, Investment Sales

    Tanner Westerheid

    VP, Manufactured Housing, Investment Sales

    Matt Skinner

    VP, Manufactured Housing, Investment Sales

    Nick Ferando

    VP, Manufactured Housing, Investment Sales