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Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
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Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
  • Listing ID: 417780
  • Posted On: Dec 9, 2013
  • Updated On: Jun 2, 2014

Description

This park needs some work, but can be made tremendously profitable with a little sweat equity. There are 29 lots, and 27 homes, 3 are owner-occupied, and the remainder 24 homes are owned by the park and need to be fixed up. The park has city water and city sewers, 2 paved roads and 1 dirt road, and 1 acre of undeveloped land that could be used for expansion. The park is located at the end of a subdivision and is near good schools, and a main thoroughfare with businesses. Newbern is located in the northwestern corner of Tennessee, a couple of hours north of Memphis. The seller is asking for only a $15,000 down payment, and is offering an assumable seller financed loan of $175,000 with no qualifying and low monthly payments of $835.48, and the remainder of the loan balance due in 15 years. This would allow plenty of time to get the park up & running before cashing out the seller through a re-finance or re-sale.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 29
Total Occupancy: 10.0 %
Year Built: 1980
Average MH Lot Rent: $200
Size: 7 acre(s)

Financial Information

Debt Info: Assumable seller financed loan, monthly payments of $835.48, loan of $175,000 financed at 4% interest for 30 year amortization, with balloon payment due in 15 years.

Lot Information

Singlewide Lots: 29

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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