Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Cap Rate: 7.7%
  • Listing ID: 472977
  • Posted On: Sep 29, 2014
  • Updated On: Mar 16, 2015

Description

NEW LISTING! NEW LISTING!

Very attractive7.5 acre mobile home park off of Elvis Presley Blvd. in Memphis,TN. Park has been family owned and operated since 1992. Illness is forcing owner to sell. Vacancy has decreased recently due to illness but could allow for additional income to new owner.

This park has been meticulously maintained with large lots and attractive common areas. Park has all city sewer and water. The majority of the homes are presently park-owned but could be converted to tenant-owned by a new owner. Units are very well maintained, clean and ready for new tenants now. There is very little for any new owner to do other than lease the available units.

Park presently pays all water for the park, but each pad is separately metered for water and electric. There is 200 amp service to almost all homes.

There are 3 acres of vacant, additional land along with this park that could possibly be developed for more homes.

Great upside for owner who can fill vacant homes and reduce operating costs. Call for more information and how you can own this unique, attractive park.

Full Marketing Package attached.

Amenities

  • Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 50
Total Occupancy: 80.0 %
Year Built: 1992
Size: 8 acre(s)

Financial Information (Actual)

Gross Income: $190,705
Operating Expense: $130,881
Net Operating Income: $59,824
Expense Ratio: 68.6 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City