Meadowview Mobile Home Park is projected to produce an NOI of +$250,000 in 2015 making for a CAP Rate of over 9%. This is a quiet, well established residential community along Aggie Road. Nestled in the heart of the Nettleton School District, Meadowview is surrounded by several churches, schools and subdivisions, and is less than FOUR MINUTES from both ARKANSAS STATE UNIVERSITY and the new $400 MILLION NEA BAPTIST HEALTHCARE CAMPUS. The location of this mobile home park allows quick access to all the retail expansion occurring along Highway 49 North.
Meadowview is an opportunity for anyone looking to make a solid investment. The park is comprised of approximately 100 MHP lots (100% Occupied), 8 RV lots (50% Occupied), and 45 park-owned homes. . Upside for increased lot rates, they have not been increased in 10 years. This mobile home property was grandfathered into a zoning that you cannot get within several miles. The residents of the community have access to a large park with a playground area, basketballs hoops and outdoor pavilion which is also located on the grounds.
The park pays for water, sewer, and trash. It also includes lawn care and pest control both of which can be stopped under new ownership. There is also a storm cellar.
