Shady Hills Mobile Home Park Milan, TN 38358

Expired  

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 15.0%
  • Listing ID: 132875
  • Posted On: Apr 11, 2012
  • Updated On: Apr 16, 2013

Description

All Park Owned Homes are being sold on LTO.

Location

Shady Hills Mobile Home Park is a quiet, stable, and fully occupied community located just outside the heart of Milan, Tennessee. Located in between Memphis and Nashville, Milan offers affordable living in a quiet setting with access to the many amenities in Memphis and Nashville.

-Positive population increase
-Strong Demand
-Stable Market
-Future job growth of 28%
-Low Market Vacancy

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

Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 94.0 %
Year Built: 1985
Average MH Lot Rent: $250

Financial Information (Actual)

Gross Income: $121,770
Operating Expense: $42,619
Net Operating Income: $79,151
Expense Ratio: 35.0 %

Lot Information

Singlewide Lots: 33
Doublewide Lots: 1

RV Information

Average RV Lot Rent: $250

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 21
Average Rent for Park-owned Homes: $450