Contact Information

Mobile Home Park Details

  • Price: $440,000
  • Property ID: 1416347
  • Posted On: Apr 1, 2021
  • Updated On: Apr 6, 2021

Property Description

Property Agent: Eric Wanck
Call Eric: +1 678-932-0200

HARRODSBURG, KY - Affectionately known as Kentucky's oldest city and nicknamed "The Birthplace of the West" is home to High Country Mobile Home Park, a small but well-established Mobile Home Park (MHP). Located in the heart of the Bluegrass Region, in a rural setting, High Country Mobile Home Park is surrounded by rolling countryside, horse farms, historic architecture and culture. High Country MHP is within a 45 minute drive to Lexington, the second largest city in Kentucky, known as the "Horse Capital of the World". With a rich background, deep rooted in history, this park is a perfect fit for someone looking to capitalize on positive cash flow.
This quiet, traditional Mobile Home Park (MHP) consists of 15 pads and 1 Single Family Home (SFH). Historically, this park has had a high occupancy rate and long-term tenancy. The current occupancy is 93%, maintaining this trend. Of the 15 pads, there are currently 10 lot renters, 2 park-owned homes (POH), 1 rent to own (RTO), 1 single family home (SFH) and one vacant POH. The vacant POH needs some minor repairs but could be ready for occupancy at a market rate of $350 +/- per month. This park offers residents a quiet, safe and convenient place to live while providing a solid rental income with very few ownership responsibilities.
The park features city water, paved roads and septic tanks in good working condition. Value add opportunities exist in rehabbing the one vacant POH and the potential for rental increase. This park is not in a flood zone and is located nearby to commercial businesses, schools and manufacturing plants. The tenant base is strong and there are no issues with collections.
Demand for rental housing is strong in a growing Mercer county and rent ready homes are quickly leased. This, coupled with the value add potential and steady income make this an excellent investment opportunity. We are asking investors to submit offers at, or above, $440,000 for the park.

Location

Harrodsburg, the county seat of Mercer County, was founded in 1774 by a stalwart band of pioneers led by James Harrod, of Pennsylvania. It was the only “colonial” city and the first permanent English settlement west of the Allegheny mountains. Referred to as the “Birthplace of the West,” Harrodsburg has a proud and remarkable heritage.
From here the pioneers filtered through – conquering the wilderness and going on to populate and settle the rest of the Western frontier. Harrodsburg was first the county seat of Fincastle County, Virginia, then Kentucky County Virginia. When Kentucky County was divided into the counties of Fayette, Jefferson and Lincoln, Harrodsburg was the county seat of Lincoln County, which at that time covered over a third of the soon to be state.

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Park Information

Number of MH Lots: 15
Total Occupancy: 93.0 %
Average MH Lot Rent: $300
Size: 2 acre(s)

Utility Information

Water: City
Sewer: Septic

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