Historical Multifamily Sale Listing - The Valley Road Mobile Home Park

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The Valley Road Mobile Home Park

3444 Valley Road, Meridian, MS 39301

N/A

135 Spaces | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Spaces:
135
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Commission Split:
6%
Cap Rate:
18%
Gross Rent Multiplier:
12
Occupancy:
80%
Year Built:
1965
Lot Size:
12 AC
Listing ID
14379714
Last Updated
over 1 year ago

Highlights

  • Great Upside
  • Great City Environment
  • Great Management in Place
  • Great Financing Available
  • Clean Clean Park
  • Gravel roads, Undergroude Utilities

Description

This park has 135 pads today, it has room for another 25 pads, it is a "B" rated mobile home park, 45 of the units are owned by the park, the rest are 155-175 a month pad renters, good location within 3 miles of I-20, New Sewage Lagoon with 80 % capicity left to pull from.................... FINANCING AVAILALBLE $450,000 Second Owner Held Note, All other Financing is Assumable......

Excellent location, 14k a month in income now, can be 25k a month if managed correctly. FEMA wanted to rent pads in this are or HUD will rent 80x16 for 575 a month if the new owners want to move 40 units into the park......... 450,000 down and the balance on 10 year 8.99% note, nothing down deal.............

Map of 3444 Valley Road, Meridian, MS 39301 (Lauderdale County)

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Created 10/23/2005