Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 3810300
- Posted On: Oct 10, 2023
- Updated On: Jan 8, 2024
Description
A great investment offering passive income with low expenses is available in this well maintained 13 unit mobile home park with long term tenants. Current rents (1) $450, (1) $475 (1) $500, (3) $550, (2) $625, (3) $650, (1) $750 (1) $850. Several tenants are long term tenants and are now on month-to-month leases, so rent increases are available. Each trailer has its own electric meter. There are 9 septic tanks (4 trailers have 2 septics to 1 tank); Expenses: public water ($390/month) park electric ($55/month for dusk to dawn lights); trash ($250/ month). 12 of the 13 heat pumps are new. Detailed rental agreements, rent logs, and septic pumping logs are available to vetted purchasers.
Location
Located in the beautiful foothills of Southwest Virginia. It's 45 minutes to Piedmont Triad International Airport in Greensboro, NC, 41 minutes from Caesars Virginia Casino in Danville, VA and 1 hour from Roanoke, VA .
Park Information
Community Type: | All Age |
Number of MH Lots: | 13 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $605 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $7,900 |
Operating Expense: | $650 |
Net Operating Income: | $7,250 |
Expense Ratio: | 8.2 % |
Lot Information
Singlewide Lots: | 12 |
Doublewide Lots: | 1 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 13 |
Average Rent for Park-owned Homes: | $605 |