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Twin Oaks MHP 1011 Oak Park Drive, Goodview, VA 24095

Off Market  

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 9.0% (Actual)
  • Listing ID: 2952858
  • Posted On: May 19, 2023
  • Updated On: Aug 21, 2023

Description

Goodview is a great income producing mobile home park located 5 miles from Smith Mountain Lake. This Park has provided the current owners steady profits since purchased. With all homes owned by the tenants, this property is a hands-off and hassle-free investment. The sale of this property includes additional land to supply more housing for bigger profits.

Location

Great area. Tenants are long term and love the area.

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Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 100.0 %
Average MH Lot Rent: $350
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $63,000
Operating Expense: $13,237
Net Operating Income: $49,763
Expense Ratio: 21.0 %
Debt Info: We currently hold a note.

Lot Information

Singlewide Lots: 15
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: 0
Average Rent for Park-owned Homes: $0

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