Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.0%
- Listing ID: 1447283
- Posted On: May 29, 2021
- Updated On: Feb 16, 2022
Description
Lookout Valley Mobile Home Community is a newly remodeled, turn Key, absentee investor's Dream! There are 21 Mobile Homes Occupied with 90% Tenant Owned Homes! There are 2 rental apartments as well. 25 addressed home lots within walking distance of a Walmart Super Center! Located in Chattanooga, Tennessee!!! Over 250,000 MSA! All homes have individual city meters and are direct billed by the city for water, sewer, electricity, and even the garbage is direct billed! Turn Key Park! 10% Cap Rate! All Utilities Tenant Paid! We have not increased Lot rents in over two years!
Location
The Lookout Valley is at the base of Lookout Mountain and is highly sought after!!! I like the spectacular views from Ruby Falls!!!
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $350 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $75,600 |
| Operating Expense: | $5,500 |
| Net Operating Income: | $70,100 |
| Expense Ratio: | 7.3 % |
Lot Information
| Singlewide Lots: | 23 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |