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Address is 1642 Dromedary Dr. Harrisonburg, VA 22801

Charles Jones

GRASSY CREEK, LC

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Grassy Creek LC

Mobile Home Park for Sale in Harrisonburg, Virginia

1642 Dromedary Dr.
Harrisonburg, VA 22801

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Mobile Home Park for Sale

Number of MH Lots: 223
Size: 63 acre(s)
Cap Rate: 8.0%
Purchase Method: Cash
Status: Sold
Property ID: 69693
Posted on: May 19, 2011
Updated on: Sep 19, 2011

Property Description

GRASSY CREEK IS A SPACIOUS 63 ACRE FACILITY WITH 223 SPACES. PRESENT RENT IS $ 325.00/MONTH. CITY WATER AND SEWER IS AVAILABLE AND IS BILLED THRU THE PARK.

THE SURROUNDING AREA IS DEVELOPING RAPIDLY EITH A NEW REGIONAL HOSPITAL WITHIN 1 MILE.

THE ASKING PRICE IS FROM AN APPRAISAL DATED APRIL 1, 2011.

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Park Information

Number of MH Lots:223
Total Occupancy:96.0%
Year Built:1990
Average MH Lot Rent: $325
Size:63.0 acre(s)

Financial Information (Actual)

Gross Income$940,000
Operating Expense$356,093
Net Operating Income$584,852
Expense Ratio 37.9%
Debt Info

Lot Information

Singlewide Lots:38
Doublewide Lots:185

Utility Information

Water:City
Water Paid By: Tenant - Submetered
Sewer:City




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