6 Lowery DrDunbar, PA 15431

Property Details for 6 Lowery Dr

Year built

1984

Lot size

4.33 AC

Property size (Sq ft)

188,832 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Dunbar Estates Mobile Home Park presents a compelling investment opportunity. This 27-pad mobile home community, situated on 4.33 acres in Dunbar, PA (Pittsburgh Metro Area), offers a stabilized income stream with significant value-add potential. Built in 1984, the park boasts 93% occupancy (25 occupied pads) as of December 11, 2024, generating a current NOI of $77,077 and a projected NOI of $90,922. The property features a mix of resident-owned trailers (RTOs) averaging $680/month and tenant-owned homes (TOHs) at $350/month. The park benefits from city water and sewer, a significant advantage. Ongoing renovations are underway, and future improvements, such as installing water meters to bill tenants directly, are projected to increase profitability. The park's 55 parking spaces and 188,832 square feet of land provide ample space. The asking price is $950,000, representing a current cap rate of 8.11% and a pro-forma cap rate of 9.57%. The property is zoned commercial and is not located in a flood zone. Recent improvements include plumbing upgrades, road improvements, and the addition of two new trailers. The current owner has owned the property since 2018. This park offers a strong foundation for a savvy investor seeking a value-add opportunity in a stable market. The existing management team, including a resident manager and maintenance man, provides continuity. The property is fee simple ownership.

Location Insight

City

Dunbar

County

Fayette

State

Pennsylvania

Latitude

39.9809

Longitude

-79.611

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