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Mobile Home Park Details

  • Price: $2,700,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.0%
  • Listing ID: 4363325
  • Posted On: Jan 30, 2024
  • Updated On: Feb 2, 2024

Description

Discover the idea of a lucrative real estate venture with this remarkable 36.56-acre mobile home park. Nestled in Front Royal, Va. this property offers a unique blend of tranquility, community, and investment potential. As you explore the countless features and benefits of this well-managed mobile home park, envision a turnkey investment that promises long-term growth. Whether you're a seasoned investor seeking to diversify your portfolio or a newcomer eager to tap into the mobile home market, Twin Oaks Mobile Home Park presents an unparalleled prospect. The park-owned mobile homes consist of a total of 20 units, distributed across different eras: 8 homes from the late 1980s, 9 from the late 1990s, and 3 from the mid-2000s. These residences comprise a; mix of two-bedroom and three-bedroom layouts, each featuring two bathrooms. All homes have been renovated and are currently in good condition. Additionally, the property includes auxiliary structures such as a spacious pole barn and a two-bay garage, both utilized by the owner for the park's; management and operations. Among the mobile homes on-site, 3 are tenant-owned, and there is one vacant lot that is approved and prepared for the placement of a new mobile home. Giving it a total of 24 units. The expansion of the park is ongoing, with six new lots in the process of construction and awaiting the completion of a new land survey. Currently, these lots are 2/3 complete, featuring a newly installed drain field, and two of them are ready for immediate development. The asking price for these lots takes into account the progress made in their development. The county conditional use permit is conveyed to the new owners. We kindly request that eligible purchasers provide evidence of their qualifications and firmly execute a confidentiality agreement before touring the park and accessing its financial information.

Location

I-66 TO EXIT 13, SOUTH ON 522/340; WEST ON RT #55 TO RT ON HOMESTEAD DRIVE GPS

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Park Information

Number of MH Lots: 23
Total Occupancy: 100.0 %
Size: 37 acre(s)

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 20
Average Rent for Park-owned Homes: $1,000

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