Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.6% (Pro Forma)
- Listing ID: 981845
- Posted On: Aug 21, 2018
- Updated On: Nov 1, 2018
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.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 9 |
| Size: | 3 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $86,280 |
| Operating Expense: | $22,810 |
| Net Operating Income: | $50,470 |
| Expense Ratio: | 26.4 % |
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 |