Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0%
- Listing ID: 3875805
- Posted On: Oct 23, 2023
- Updated On: Apr 15, 2024
Description
Affordable Investment Opportunity! Priced at $350,000, this property features 18 occupied homes, a diverse tenant base, and potential for development with three vacant lots. Convenient city utilities, tenant-managed trash, and an average site price under $20,000 make it a sound investment choice in Bassett, VA.
Location
4431 Philpott Drive, Bassett, VA, 24055
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
Community Type: | All Age |
Number of MH Lots: | 20 |
Total Occupancy: | 90.0 % |
Year Built: | 1754 |
Average MH Lot Rent: | $225 |
Size: | 10 acre(s) |
Financial Information (Actual)
Gross Income: | $57,600 |
Operating Expense: | $19,536 |
Net Operating Income: | $38,063 |
Expense Ratio: | 33.9 % |
Lot Information
Singlewide Lots: | 0 |
Doublewide Lots: | 20 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 5 |
Average Rent for Park-owned Homes: | $358 |