Executive Summary
Berkadia Manufactured Housing is pleased to present Elk River MHC, a charming 227- site community located in the vibrant Charleston, WV metro. This community is currently operating at 49% occupancy and features below market rents-offering a significant value add opportunity for a new owner. With current rents positioned over $100 below the market average, Elk River MHC provides a substantial opportunity to align with market rates, capitalizing on the strong local demand and occupancy trends. The leasing of just 25 additional sites in the first year could boost effective rental income by $92,700, even without adjusting existing rent levels. In addition to the vacancy and rental upside, the property benefits from direct billed public utilities and features all tenant owned homes, simplifying management and reducing costly operational expenses. Elk River MHC presents an opportunity to acquire an investment with immediate upside and operational efficiencies in a well-positioned market.
Investment Highlights
01
BELOW MARKET RENTS
02
UPSIDE IN FILLING VACANT SITES
03
DIRECT BILLED PUBLIC UTILITIES
04
All tenant-owned homes
The Location
Charleston, the capital of West Virginia, is nestled at the confluence of the Elk and Kanawha Rivers. Known for its vibrant cultural scene, the city hosts events like the Charleston Sternwheel Regatta and the Mountain Stage radio show. Additionally, Charleston boasts historical landmarks such as the West Virginia State Capitol and the Clay Center for the Arts and Sciences. Charleston’s economy is diverse, with key sectors including government, healthcare, and education, supported by institutions like the Charleston Area Medical Center and the University of Charleston. Additionally, the city has a growing focus on technology and energy, leveraging its historical roots in coal and natural gas.
CHARLESTON County Quick Facts
#5
Best Counties for Young Professionals
Niche, 2025
#8
Best Counties to Live in West Virginia
Niche, 2025
Best
National University
University of Charleston, 2025
U.S. News & World Report
PHOTO GALLERY
Contact Us
COLUMBUS, OH OFFICE
6555 Longshore Street
Suite 280
Dublin, OH 43017
Investment Sales
Brian Hummell
Director
614.468.5773
[email protected]
Kevan Enger
Senior Managing Director
407.494.8541
[email protected]
Ian Hilpl
Managing Director
315.406.0900
[email protected]
Hunter LaRocca
Director
407.227.9643
[email protected]
Broker of Record
WV BROKER OF RECORD
Todd Goldman
Goldman Associates, Inc.
227-Site Community in Charleston, WV
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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