Mobile Home Park Details

  • Property ID: 1747258
  • Posted On: Sep 1, 2022
  • Updated On: Nov 29, 2022

Property Description

This property is a fully leased investment opportunity located at 3401-3405 George Washington Highway in the southeast portion of Portsmouth, more specifically, in the Cradock area. The neighborhood is an established, suburban residential and commercial area with many shopping locations and service businesses available nearby for the tenants of the trailer court. The
residents have easy access to all parts of Portsmouth.

Mobile Home parks are a steady investment with rents poised to increase as the Virginia Beach – Norfolk MSA is seeing continued population and rental growth. The Norfolk MSA is the 37th largest MSA in the country and has a population of 1.7M. Thanks to the large military presence and strong growth of the Norfolk Port, the area has seen large rental increases in recent years. Close to the property are the Portsmouth Naval Hospital and the Norfolk Naval Shipyard with their large employee populations.

The Brinkley Trailer Court is in an excellent location and offers the tenants a stable environment and affordable rents in which to live. An investor should always have a large body of tenants in which to choose from.

Location

Two parcels - must be sold together. 3401 & 3405 George Washington Highway, Portsmouth, VA.

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Park Information

Community Type: All Age
Number of MH Lots: 24
Total Occupancy: 100.0 %
Average MH Lot Rent: $450
Size: 1 acre(s)

Lot Information

Singlewide Lots: 24

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 24
Average Rent for Park-owned Homes: $450