Historical Multifamily Sale Listing - Lynchburg Mobile Home Park

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Lynchburg Mobile Home Park

7136 Hwy 301 North, Horn Lake, MS 38637

N/A

108 Spaces | Multifamily

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Lynchburg Mobile Home Park

Multifamily Property - Off Market

Price:
N/A
No. Spaces:
108
Property Type:
Multifamily
Property Sub-type:
Mobile Home/RV Community
Property Use Type:
Investment
Commission Split:
2.75%
Cap Rate:
9.50%
Gross Rent Multiplier:
6.50
Occupancy:
91%
Year Built:
1974
Lot Size:
19.60 AC
Listing ID
14637865
Last Updated
over 1 year ago

Highlights

  • 108 homesites.
  • Hard surfaced streets.
  • 31 rental homes are included.
  • City water & city sewer.
  • Economically vibrant area.
  • 8 vacant homes and 2 vacant sites.

Description

Lynchburg Mobile Home Park is located in DeSoto County, MS. There is tremendous population growth in the market and employment opportunities in construction, retail, and hospitality.

With a fulltime manager, the current owner of Lynchburg spends very little time at the property. The manager takes care of all aspects of the operation. There is also a full-time maintenance person who works 44 hours a week and is paid roughly $9.00 per hour.

108 homesites with 31 rental homes. Home rentals pay weekly. There are also three homes leased with an option to purchase. Seller will retain these lease to own options.

This is a great property for an investor who wants to invest but doesn t have the time to be very involved with management.

DeSoto County, Mississippi enjoys the best of both worlds. It is one of the fastest growing counties in the South and it is part of the Memphis, TN market. It is a bedroom community for Memphis employees. It is 15 miles from the Tunica, MS casinos and hotels. Tremendous growth of housing, retail, and golf courses is taking place and unemployment is very low.

Map of 7136 Hwy 301 North, Horn Lake, MS 38637 (DeSoto County)

Research for 7136 Hwy 301 North, Horn Lake, MS 38637 (DeSoto County)

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