32 Home Mobile home park portfolio Nashville, AR 71852

For Sale   Price Reduced     $622,000

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Contact Information

Mac Napurano

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Mobile Home Park Details

  • Price: $622,000
  • Purchase Method: Cash
  • Listing ID: 6485690
  • Posted On: Jul 4, 2024
  • Updated On: Oct 4, 2024

Description

This well-maintained mobile home park in Nashville, AR offers 31 occupied lots, all with infrastructure and utility hookups on 32 lots.

The park features:

Overview
Location: Nashville, AR
Asking Price: $849,000
Total Lots: 32 Lots
6.79 Acres
Property Features
Homes and Lots
26 park-owned homes
5 tenant-owned homes
1 vacant lot
All lots equipped with infrastructure and utility hookups
Two parks (10) minutes from each other, one (28) lots & the other (4) lots.
Infrastructure
Paved roads in good condition
Updated PVC water lines (installed 2011)
Schedule 40 sewer lines (installed 2011)
Home Specifications
Homes from the 1980s-1990s
Recent upgrades include:
Metal underpinning
Metal roofs
Utilities and Services
City water
City sewer
City trash services
Separate electrical metering for each lot
Financial Highlights
Amazing occupancy with stable tenancy
Month to month leases can be increased immediately
Average rent is $200+ below market

Location

The 27 Pad MHP is 6 Minutes away from the 5 Pad MHP

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Park Information

Community Type: All Age
Number of MH Lots: 32
Year Built: 2000
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $216,000
Operating Expense: $86,000
Net Operating Income: $129,600
Expense Ratio: 39.8 %

Lot Information

Singlewide Lots: 32

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 31
Average Rent for Park-owned Homes: $450

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