Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0% (Actual)
- Listing ID: 3875805
- Posted On: Oct 23, 2023
- Updated On: Apr 15, 2024
Description
Affordable Investment Opportunity! Priced at $350,000, this property features 18 occupied homes, a diverse tenant base, and potential for development with three vacant lots. Convenient city utilities, tenant-managed trash, and an average site price under $20,000 make it a sound investment choice in Bassett, VA.
Location
4431 Philpott Drive, Bassett, VA, 24055
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1754 |
| Average MH Lot Rent: | $225 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $57,600 |
| Operating Expense: | $19,536 |
| Net Operating Income: | $38,063 |
| Expense Ratio: | 33.9 % |
Lot Information
| Singlewide Lots: | 0 |
| Doublewide Lots: | 20 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $358 |
