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Mobile Home Park Details

  • Price: $4,100,000
  • Cap Rate: 9.1%
  • Listing ID: 6786656
  • Posted On: Dec 10, 2024
  • Updated On: Dec 10, 2024

Description

Sands Investment Group is Pleased to Present the Opportunity to Acquire a 72 Site MH Portfolio Within 2 Hours Distance of One Another. This Portfolio Includes 62 Park Owned Homes & 9 Tenant Owned Homes. Possibility to Take Up to 60% Bonus Depreciation on Park Owned Homes if Closed in 2024. Upside Opportunity to Convert POH's to Rent-to-Own (RTO) Contracts to Reduce Repair and Maintenance Costs. Property Management in Place and Will Remain With the Portfolio (at Request). Option to Purchase an Additional 8 Site Park Near Current Portfolio. Inquire For Additional Information.

HIGHLIGHTS FOR EACH PROPERTY:

VALES MILL MOBILE HOME PARK - PULASKI, TN
• 27 Total Lots Comprised of 25 Park Owned Homes, 1 Tenant Owned Home and 1 Vacant Lot
• Beginning to Start RTO Contracts on the POHs
• Utilities are Individually Billed for Water & Electric - City Water & Private Septic System
• The Septic Systems Were Recently Completely Updated With New Field Lines Throughout the Property
• Paved Roads
• The Property is Situated on 8.39 Acres

SIMPSON ROAD MOBILE HOME PARK - FAYETTEVILLE, TN
• 18 Total Lots Comprised of 15 Park Owned Homes & 3 Tenant Owned Homes
• Utilities are Master Metered - City Water & Private Septic
• Paved Roads
• The Property is Situated on 5.66 Acres

RIVER ROAD ESTATES - MUSCLE SHOALS, AL
• 27 Total Lots Comprised of 22 Park Owned Homes & 5 Tenant Owned Homes
• Utilities are Individually Billed - City Water & Private Septic
• Paved Roads
• The Property is Situated on 6.08 Acres

Location

Portfolio is located throughout the states of Tennessee and Alabama

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Park Information

Number of MH Lots: 72
Size: 20 acre(s)

Financial Information (Actual)

Net Operating Income: $373,935

Lot Information

Singlewide Lots: 72

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