This Multifamily Property is Off-Market.

3444 Valley Road
Meridian, MS 39301 ·

135 Spaces · Multifamily For Sale

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The Valley Road Mobile Home Park

Price N/A Cap Rate 18%
No. Spaces 135 Gross Rent Multiplier 12
Property Type Multifamily Occupancy 80%
Property Sub-type Mobile Home/RV Community Year Built 1965
Property Use Type Investment Lot Size 12 AC
Commission Split 6%
Listing ID: 14379714 Date Created: 10/23/2005 Last Updated: 08/19/2008

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.............

Highlights

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

Research

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

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