Contact Information

Mobile Home Park Details

  • Price: $849,000
  • Purchase Method: Cash
  • Listing ID: 6485690
  • Posted On: Jul 4, 2024
  • Updated On: Jul 11, 2024

Description

This well-maintained mobile home park in Nashville, AR offers 32 fully occupied lots, all with infrastructure and utility hookups. The park features:

28 park-owned homes and 4 tenant-owned homes
Paved roads in good condition
Updated PVC water lines and Schedule 40 sewer lines (installed in 2011)
Homes from the 80s-90s with recent upgrades including metal underpinning and metal roofs
Stable tenancy with full occupancy
City water, sewer, and trash services
Separate electrical metering for each lot
Low property taxes (approximately $2,000/year)
Potential for rent increases (current lot rent: $150)
Additional income from park-owned home rentals
Not located in a flood plain

This park presents an excellent opportunity for investors looking for a stabilized property with potential for further optimization and income growth.

Location

The 28 Pad MHP is 6 Minutes away from the 4 Pad MHP

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Park Information

Number of MH Lots: 32
Total Occupancy: 100.0 %
Year Built: 2000
Average MH Lot Rent: $150
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $216,000
Operating Expense: $86,000
Net Operating Income: $129,600
Expense Ratio: 39.8 %

Lot Information

Singlewide Lots: 32

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 28
Average Rent for Park-owned Homes: $450

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