Mobile Home Park Details

Cap Rate: 6.7%
Listing ID: 3562306
Posted On: Aug 22, 2023
Updated On: Sep 29, 2023

Description

Exclusively Listed By: Jennifer Stein Real Estate Inc. & MFI Commercial

Brentwood Estates & Rosebud MHP: A Premier Investment Opportunity

Location:
Brentwood Estates | 369 West Elm Rd, Radcliff, KY
Rosebud MHP | 2315 Beech St, Ashland, KY, 41102

Units: A combined total of 80 units spread across 12 acres.

Unit Mix & Rent Details:

Brentwood Estates:
46 Units
41 Lots | 4 Single Family Homes | 1 Studio Apartment
Tenant Owned Homes: 6 at $250-$300
Park Owned Homes: 12 (6 Vacant/Rehab) $575 - $850
Rent to Own: 11 units at $800-$875
Single Family Homes: 4 (All Vacant/Rehab) at $1,000
1 Studio Apartment: $375 rent
Vacant Lots: 12
Rehab Units: 5 POH, 4 SFH, 1 POH Demo

Rosebud MHP:
34 Units
33 Lots | 1 Single Family Home
Tenant Owned Homes: 4 ranging from $250-$300
Park Owned Homes: 27 (13 Vacant) ranging from $450-$850
1 Single-Family Home at $1,000
Vacant Lots: 2

Utilities:

Brentwood Estates: Water, sewage, electric, and trash are all directly billed.

Rosebud MHP: Electric & trash are directly billed. Water and sewage - Master Meter - landlord pays.

Location

Overview: Brentwood Estates & Rosebud MHP represent a harmonious blend of urban convenience and tranquil living. Both parks are strategically positioned to benefit from their respective city's growth and development. Significant capital improvements have been executed in both parks, with potential for further value enhancement.

Brentwood Estates: Nestled in the heart of Radcliff, this park is poised to benefit from the upcoming BlueOvalSK Battery Park, a nearly $6 billion investment expected to bring 5,000 jobs to the region by 2025.

Rosebud MHP: Located in Ashland's prime residential area, this park is set to capitalize on the groundbreaking of a new $55 million horse racing facility, promising increased housing demand and economic vitality.

Value-Add Opportunities: Both parks offer significant value-add opportunities. Introducing new trailers, optimizing occupancy, and renovating existing units can drive up rental income and overall park valuation.

Connectivity & Accessibility: Both parks enjoy seamless connectivity to major highways, ensuring effortless commutes for residents. They are also in proximity to essential amenities, including schools, healthcare facilities, shopping centers, and recreational areas.

Key Distances:

Brentwood Estates:
Louisville International Airport: Approx. 40 miles
Elizabethtown: Approx. 11 miles
Louisville, KY: Approx. 30 miles

Rosebud MHP:
Tri-State Airport: Approx. 14 miles
Huntington, WV: Approx. 17 miles
Lexington, KY: Approx. 80 miles
Cincinnati, OH: Approx. 117 miles
Nashville, TN: Approx. 125 miles

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