Morgantown WV Portfolio

Morgantown WV Portfolio

Morgantown, WV
Available
  • Property Type: Manufactured Housing
  • Property Size: / 94.25± Acres / 296 Sites

Overview

Capstone Manufactured Housing is pleased to present the Morgantown, WV Portfolio consisting of 296 sites across two communities, St. Clair’s Village and Woodland Terrace. This portfolio contains 265 MH sites, 30 apartment units, and 1 single-family home, the latter two being located at St. Clair’s Village. Strategically located in the Morgantown MSA, which is situated along the Pennsylvania border and considered the largest city in North-Central West Virginia, these communities are less than 5 miles away from each other. The growth in Morgantown can be attributed to West Virginia University, and due to this, the housing market has seen an increase within the past year of single-family home prices. As a result, the need for affordable housing has grown, which makes both St. Clair’s Village and Woodland Terrace viable options for prospective residents. Additionally, both communities benefit from public utilities that are either sub-metered or direct-billed to residents, thus eliminating any costly utility expenses. Furthermore, this portfolio features a 62% economic occupancy and below-market lot rents at Woodland Terrace, therefore introducing a major catalyst for immediate rental upside. This offering presents investors with an opportunity to acquire a well-located portfolio that benefits from strong operational characteristics and value-add components. 

Investment Highlights

  • Demand for Affordable Housing in Immediate Market
  • Operational Efficiencies
  • Lot Rent Growth Potential at Woodland Terrace
  • Upside in Filling Vacancy

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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