Auburn Hills MHP - for Sale in Ooltewah, Tennessee

9001 Bill Reed Road
Ooltewah, TN 37363
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Photo of Mobile Home Community
Photo of Mobile Home Community

Mobile Home Park for Sale

(Distressed)
This property is in default, REO or in foreclosure.
Number of MH Lots: 120
Size: 34.6 acre(s)
Status: Sold
Property ID: 102763
Posted on: Aug 25, 2011
Updated on: Nov 07, 2011

Property Description

Auburn Hills is a highly desirable investment for its location, less than five miles from Chattanooga, Tennessee. The community has 120 sites developed in mixed years from 1955- 1997. The property has a mixture of older and newer single and sectional homes with a medium density scattered among the tall mature hardwoods and pine trees of its rolling 34.6 acre landscape. The streets within the park are blacktop with partial blacktop curbs and are in fair condition. Employment and population growth recently has marked the Auburn Hills area as one of the fastest growing zip codes in the United States. Within the past year, Volkswagen opened a plant very near the park.

The upside potential for an investor is leasing the Park Owned Units and filling the 37 vacant sites with additional homes to meet the demand of the market. The property is currently operating on a communal septic system. Please note that the park owned units are not included in this sale. The purchase of the homes could be negotiated with the 3rd party owner after the Bank has accepted an offer.

Park Information

Number of MH Lots:120
Total Occupancy:69.0%
Average MH Lot Rent: $289
Size:34.6 acre(s)

Financial Information

Net Operating Income$159,398
Debt Info

Utility Information

Water:City
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:17