Ravenwood II
Ravenwood II
Ravenwood II

Mobile Home Park Details

  • Listing ID: 715982
  • Posted On: Oct 25, 2016
  • Updated On: Feb 21, 2017

Description

Capstone Manufactured Housing is pleased to present Ravenwood II located in historic Greeneville, TN, the county seat of Greene County and part of the
CSA commonly known as the “Tri-Cities” of Northeast Tennessee and Southwest Virginia. This value-add investment opportunity includes 207 mobile home sites, 5 apartment units, and 1 single-family home. Investors can capitalize on fully developed infrastructure, including sub-metered municipal water and sewer paid by tenants. There is an on-site manager in place and there have been no rent increases since August 2013. As of September 25, 2016, the park owns 72 homes and has 46 additional land lease tenants in place. The property is primed with revenues of over $400,000 (2015), a strong local demand for affordable housing, and compelling upside potential.

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Park Information

Community Type: All Age
Number of MH Lots: 207
Total Occupancy: 53.4 %
Year Built: 1960
Average MH Lot Rent: $160
Size: 26 acre(s)

Lot Information

Singlewide Lots: 207

Park-Owned Homes

Number of Park-owned Homes: 72
Average Rent for Park-owned Homes: $160

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