Off-Market 50-Pad MHP Under Contract - Looking for a partner
Afternoon Group, My name is Terrell Istre— I just locked up my first MHP contract. A 50-pad mobile home park in Mississippi, where I’m looking to bring on a partner to help capitalize on this solid opportunity. This one checks all the right boxes: - Strong location - Mostly tenant-owned homes - Attractive entry price and solid returns - Off-market There are a few other groups circling, so I’d like to move strategically. I’d love to discuss partnering with you if it’s a fit. Let’s connect when you’re available. LOI Accepted: $1,275,000 Property Type: All-Age Family Mobile Home Park Size: 6 Acres | Total Pads: 50 Breakdown: 43 MH Spaces | 7 RV Spaces Ownership: 2 Park-Owned Homes | 48 Tenant-Owned On-Site Office: Yes – not included in pad count (large enough to convert to an apartment) Current Numbers (High Level View) GSR: $152,400 (projected $180,000) Exp: $45,720 NOI: $106,680 Investment Highlights: Offers stable income with value-add potential. It's connected to city water and sewer, directly metered to tenants—keeping operations lean. Lot rent is just $225/month, well below market with room to increase. The park’s in solid shape overall, with opportunities to boost value through road repairs, updated signage, and lease enforcement. Minimal landscaping and standard lot sizes help keep maintenance low. Located in a growing submarket with strong fundamentals, this is a solid play for investors focused on reliable cash flow and long-term upside. If this looks like a deal you'd be open to partnering on, let me know a good time for a quick call to explore in more details. Best regards, Terrell