Contact Information

Mobile Home Park Details

  • Price: $2,500,000
  • Land: This is land for developing a mobile home park
  • Property ID: 235166
  • Posted On: Jul 31, 2012
  • Updated On: Jun 23, 2019

Property Description

This beautiful, thriving community in Warren County with 57 acres of land has multiple expansion opportunities. It is located minutes from two interstates and within a commutable distance to Washington, DC.

The park currently has 24 spacious lots with homes on them, 6 additional lots (to be completed later), and 8 more lots for possible future expansion (completed soil work only). All lots have permits and mobile homes can be replaced as needed. This property still has several acres leftover beyond those areas for recreation or personal use. There is no flood plain.

Park currently has a monthly income of $14,975.00 (as of Feb. 2019) and will increase to $15,775.00 (later this year). The mobile home park has very low expenses. (If you would like detailed income/expense records, please contact us by phone). Also, when the 6 additional lots are completed in the future, there will be $4,800.00 to $5,700.00 more in monthly income. If you were to convert the current lot rent spaces into rental units, the additional income would increase too. There is more space available for potential expansion beyond this as well (considering the 8 potential lots mentioned above).

The park stays at 100% occupancy, unless a unit is being remodeled. Property includes three in-use wells (and a 4th viable well that can be used), multiple conventional drain fields, a 2-car garage, a large barn (office/maintenance space), 14-remodeled mobile home units in good shape, and state-specified roads. There is currently another mobile home unit sale-pending, which would increase the park owned units to 15 total.

We currently collect $400 to $450 monthly lot rent (for those 10 tenants who own and reside within their own mobile home). We currently collect $800 and up monthly mobile home rent (for those 14 tenants who rent the mobile home on the lot). Our mobile home inventory (14-completely remodeled units) is estimated at over $340,000 total.Our rent prices are below-average for the area, which has seen a jump in rental rates recently.

Water meters are currently not installed, but we have priced them out and are considering that option. This would be managed by an outside company who would bill the tenants, if that option is chosen.

Asking price is $2,500,000 firm. No owner financing is available. Call Margaret to find out more: 540-364-1958, between 8am and 7pm EST. We prefer phone calls instead of emails.

We are available to help the new owner transition into the management phase with agreed-upon terms.

Location

A partially-wooded, quiet community, located just minutes from the town limits of Front Royal. Front Royal offers access to a major interstate highway, multiple industrial areas for employment, new construction, new shopping centers, and several recreational areas (Shenandoah National Park, Shenandoah River State Park, Skyline Caverns, etc).

Amenities

  • Storage
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Park Information

Number of MH Lots: 24
Size: 57.0 acre(s)

Lot Information

Singlewide Lots: 24

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 14

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