Mobile Home Park Details

  • Price:
  • Purchase Method: Cash
  • Cap Rate: 12.6%
  • Property ID: 981845
  • Posted on Aug 21, 2018

Property Description

LOUISVILLE TN MOBILE HOME PARK - GREAT OCCUPANCY - 12.6 CAP RATE - GREAT LOCATION. Dug Gap Lake Mobile Home Park has been family owned and operated since 1995. Located on a prime corner on almost 3 acres, this sale includes a single family home (1,378 sqft as per tax records), 9 park owned mobile homes, one of which needs renovation. Convenient to Knoxville, Alcoa & Maryville, at the SW Corner of McCarty Road & Little Dug Gap allows for easy resident accessibility & rental. Park like surroundings, easy access to the lake, airport, shopping & Alcoa Highway helps keep this park fully rented & an excellent investment. No Sign on property. Please do not disturb the residents. All showings through listing agent. Square footage is estimated, is not guaranteed, & should be verified by buyer. I-140 toward Maryville, take exit 9/Topside Rd & turn right onto Topside Rd/TN-333. Turn left onto Louisville Rd/TN-334, Enter next roundabout and take the 1st exit onto Miser Station Rd. Take the 1st right onto Little Dug Gap Rd. & bear right to stay on Little Dug Gap. Property is on the SW corner of McCarty Rd & Little Dug Gap Rd.

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Park Information

Community Type: All Age
Number of MH Lots: 9
Size: 2.8 acre(s)

Financial Information (Pro Forma)

Gross Income $86,280
Operating Expense $22,810
Net Operating Income $50,470
Expense Ratio 26.4 %
Debt Info

Lot Information

Singlewide Lots: 9

RV Information

Number of RV Lots: 9

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $770

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