Case Study SD Mountain Transformation

APEX MHP FUND I specializes in acquiring aging and underperforming mobile home parks, transforming them into modern, family-oriented workforce housing. Their strategic approach involves implementing extensive capital improvements and overhauling tenant demographics, ultimately revitalizing the properties to generate substantially higher rents.  In this case study we acquired a mobile home park on Gastonia, NC which had been poorly maintained both in the physical aspect as well as being poorly managemed from the business side as well.

 

The mobile home park was in dire need of updates and renovations. Outdated and deteriorating infrastructure, low-quality amenities, and problematic tenant histories posed significant challenges. The properties were unable to command competitive rents due to their substandard conditions and clientele.

 

a comprehensive strategy to rejuvenate the mobile home parks began, beginning with substantial capital improvements. Investments in roadway, utility, and landscape enhancements not only modernized the properties but also boosted their appeal to potential tenants. In addition, the company undertook a meticulous review of tenant histories, replacing problematic residents with new, financially stable families, thereby instilling a more conducive living environment.  (See Exhibit A)

 

By executing their transformational plan, the park was repositioned as family-oriented workforce housing development. These strategic changes led to a considerable increase in demand for tenancy, allowing the owners to command significantly higher rents than the previous rates.

 

In conclusion, the innovative approach of redeveloping mobile home parks has resulted in the creation of appealing and lucrative workforce housing. This successful case study showcases the ability to revitalize underperforming properties, ultimately delivering value to both tenants and investors.