Historical Multifamily Sale Listing - Hardy Road Mobile Home Park

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Hardy Road Mobile Home Park

Hardy Road, Vinton, VA 24179

N/A

109 Spaces | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Spaces:
109
Property Type:
Multifamily
Property Sub-type:
Mobile Home/RV Community
Property Use Type:
Vacant/Owner-User
Cap Rate:
12%
Gross Rent Multiplier:
10
Year Built:
1965
Lot Size:
37 AC
Listing ID
10926119
Last Updated
over 1 year ago

Description

Park consists of 106 units and a house. Rents currently at $220 per space and $660 for house. No units owned by park.Spaces rented only. The original park consisted of a seven acre parcel, and the new section consists of thirty acres, for a total of 37 acres. Water is provided from three strong class B wells,one of which supplies 60 gallons per minute. All water is treated. Each unit has its own septic tank in the new section of the park except one instance where two units share a tank. In the old section there is a sewage treatment facility which does require upgrading. The owner is prepared to do this or to allow $100,000 for purchaser to complete upgrade. There is a three year old two bay garage with a tractor and lawn mowing equipment, as well as park maintenance supplies and equipment, which conveys. There is also a contiguous 80 acre parcel which can be bought and used to expand the park. Contact Ricky Mullen at for complete information.

Hardy Road Mobile Home Park is located just across the Bedford County line from Roanoke, and has the benefit of rural Bedford's low tax rates with the desirable feature of being very close to Roanoke's employment centers. Twenty minutes from 99% of any job in the valley ensures that the park will stay rented. Schools are good and close by,with a brand new elementary school in the area. Hardy Road has recently been straightened and improved. The area is growing and is desirable, partly because of the low Bedford County tax rate and partly because Smith Mountain Lake is close by in that direction.

Map of Hardy Road, Vinton, VA 24179

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