Contact Information

Jeffrey Goldberg

Murphy Creek Investments

Mobile Home Park Details

  • Price: $795,000
  • Purchase Method: Cash
  • Cap Rate: 10.0%
  • Property ID: 1447283
  • Posted On: May 29, 2021
  • Updated On: Nov 11, 2021

Property Description

Lookout Valley Mobile Home Community is a newly remodeled, turn Key, absentee investor's Dream! There are 21 Mobile Homes Occupied with 90% Tenant Owned Homes! There are 2 rental apartments as well. 25 addressed home lots within walking distance of a Walmart Super Center! Located in Chattanooga, Tennessee!!! Over 250,000 MSA! All homes have individual city meters and are direct billed by the city for water, sewer, electricity, and even the garbage is direct billed! Turn Key Park! 10% Cap Rate! All Utilities Tenant Paid! We have not increased Lot rents in over two years!

Location

The Lookout Valley is at the base of Lookout Mountain and is highly sought after!!! I like the spectacular views from Ruby Falls!!!

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Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 100.0 %
Average MH Lot Rent: $350
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $75,600
Operating Expense $5,500
Net Operating Income $70,100
Expense Ratio 7.3 %
Debt Info

Lot Information

Singlewide Lots: 23
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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