This Multifamily Property is Off-Market.

7136 Hwy 301 North
Horn Lake, MS 38637 ·

108 Spaces · Multifamily For Sale

N/A

Print

Lynchburg Mobile Home Park

Price N/A Cap Rate 9.50%
No. Spaces 108 Gross Rent Multiplier 6.50
Property Type Multifamily Occupancy 91%
Property Sub-type Mobile Home/RV Community Year Built 1974
Property Use Type Investment Lot Size 19.60 AC
Commission Split 2.75%
Listing ID: 14637865 Date Created: 05/26/2006 Last Updated: 09/25/2006

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.

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.

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Horn Lake Market Trends - Asking price index trends, sale price trends, asking rent trends

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.

I am a place holder, please don't judge me!!! (no, I judge you!)