The requested property is removed. Here are active Mobile Home Parks for Sale in Grundy, Virginia

Great Income Stream for Small Investor 115 Smokey Lane, Elkton, VA 22827

Sold  

Photo 1
Photo 2
Photo 3
Photo 1
Photo 2
Photo 3

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 15.6% (Actual)
  • Listing ID: 1483387
  • Posted On: Jul 26, 2021
  • Updated On: Sep 6, 2021

Description

8 lots with 7 Units. 8th lot has well house on it. * 15.6% Cap Rate *
Breakdown:
1 Park Owned Home @ $500
3 Tenant Owned Homes @ $300
1 Tenant Owned Home @ $250 (Tenant mows field and plows snow)
2 Rent to Own @ $625 / $600 (3-1-20 and 5-1-19) both 5 year terms.
Expenses:
$25 Monthly Electric for sewer pump.
$175 Water-Pump from own well house and save this monthly.
Taxes are $465 every 6 months.
Tenants take care of their own yard, trash, and electric.

Location

Quiet and Comfortable setting just outside of Elkton, near Harrisonburg. Only reason I'm listing is because I want to get something bigger.

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

Park Information

Number of MH Lots: 7
Total Occupancy: 100.0 %
Average MH Lot Rent: $300
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $34,500
Operating Expense: $3,330
Net Operating Income: $31,170
Expense Ratio: 9.7 %
Debt Info: I have a loan on this to 1 local bank.

Lot Information

Singlewide Lots: 8
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $600