Mobile Home Park Details
- Purchase Method: Cash
- Listing ID: 554173
- Posted On: Aug 19, 2015
- Updated On: Feb 18, 2016
Description
NEW LISTING!
Package of 2 mobile home parks in Memphis, TN. Properties are located only 15 minutes apart and offer a combined 105 pads. All pads/parks on city water and sewer and all pads are separately metered. Tenants pay their own electric bills and the park owner has been paying taxes and water for both parks. The pads are not separately metered for water at present. The parks are 100% occupied.
Tremendous upside! All homes are tenant owned. They are not in a lease-to-own or rent-to-own scenario. Tenants fully own homes and pay lot rent of only $200/month. Lot rents in the area are $275 - $300/pad.
Owner is retiring and ready to sell. The owners prefer an all-cash sale without any seller financing.
If you are ready to take on these parks and reap the benefits of the rental upside, please contact me. A full Marketing Package is attached for review.
Priced at $2,000,000 for both parks.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 105 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1950 |
| Average MH Lot Rent: | $200 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $252,000 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |