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 .

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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

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