Mobile Home Park Details

Purchase Method: Cash
Listing ID: 1647903
Posted On: Apr 15, 2022
Updated On: Apr 16, 2022

Description

Jollivue Acres Mobile Home Park in Atkins, VA is a 40-lot mobile home park located outside of Marion, Virginia, right off Interstate 81. Currently 29 lots are being currently occupied, with 9 of the lots located in slight flood plains requiring femarisers. Lot rent is set at $250, with potential to increase under new ownership due to strong rental demand in the area. Jollivue offers a potential value-add opportunity by filling empty spaces with new mobile homes, storage units or covered boat & RV storage. The park is direct billed water and sewer.

■Offering price is at a 7.7% cap rate for the entire park, and we ask investors to submit offers at or above $895,000.

Location

■Jollivue Acres Mobile Home Park is only a 5-minute drive from the local Walmart and other local establishments, including many restaurants and government buildings. Emory and Henry College is also located in Marion, about 10 minutes from the park. North of the park are many outdoor and recreational activities available from the mountain ranges and parks nearby.

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