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Address is 4 Locust Street Hopkinsville, KY 42240

Christopher Nortley

MHRE Inc.

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Ashwood Village

Mobile Home Community for Sale in Hopkinsville, Kentucky

4 Locust Street
Hopkinsville, KY 42240

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Sale Price: $7,100,000
 

Contact Information

Christopher Nortley
MHRE Inc.

Mobile Home Park for Sale

Number of MH Lots: 145
Size: 23 acre(s)
Status: Sale Pending
Property ID: 794840
Posted on: Mar 24, 2017
Updated on: Apr 05, 2018
Price: $7,100,000

Property Description

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View Property Listing on MHRE Website: http://www.mhreinc.com/properties/ashwood-mhp/

MHRE is pleased to present Ashwood Village Mobile Home Park and Self-Storage located in Hopkinsville, KY. The community was originally built in 1974 and consists of 44 self-storage units and 145 mobile home sites, which includes 143 park owned homes and 2 site rentals. In 2008, the community went through a large renovation which includes, but is not limited to, the owner bringing in 103 new single-wide homes built in 2008 or later, completely renovating approximately 29 homes within the community, improving the grounds, and an electrical upgrade, etc. Currently, approximately 10 of the inventory homes are ready to be renovated which would create immediate upside for a new owner.

Hopkinsville is a strong rental market with very little comparable mobile home park or apartment competition. Ashwood Village is a more desired rental option considering the competition for rentals are older apartments that are in average to below average condition. This is evident by the 89% occupancy at the community and a waiting list for rentals.

In the beginning of 2017, the current owner put in place a water and sewer reimbursement fee of $60 which will be incorporated into all leases as they renew over the year. This adjustment adds approximately $100,000 of additional revenue which will go straight to the bottom-line.

Location Description

Christian County and its county seat, Hopkinsville, are located in southwestern Kentucky, a part of the Pennyroyal region. Hopkinsville-Christian County, Kentucky is centrally located 15 miles north of Kentucky/Tennessee border. The city is easily accessible by highway from Interstate 24 and the Pennyrile Parkway and is encompassed by a well-planned state highway network. Year-round recreation opportunities abound in Hopkinsville-Christian County, from meandering walking trails to scenic biking and hiking to golf and scuba diving, the mild climate allows visitors and residents to enjoy the outdoors in all four beautiful seasons. Walk the footsteps of the Cherokee Indians on the Trail of Tears, golf the championship Links at Novadell, scavenger dive to find underwater treasures, soak up a host of natural wonders at Pennyrile Forest State Resort Park, splash in the Tie Breaker Family Aquatic Center, or explore the historic downtown.

Park Information

Number of MH Lots:145
Total Occupancy:89.0%
Year Built:1974
Average MH Lot Rent: $325
Size:23.0 acre(s)

Utility Information

Water:City
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:142

Amenities and Other

Storage: Yes