This Multifamily Property is Off-Market.

Maple Ridge
Bassett, VA 24055 ·

71 Spaces · Multifamily For Sale

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PRICE REDUCED - 15.61% CAP Rate - Three Moble Home

Price N/A Property Use Type Investment
No. Spaces 71 Cap Rate 15.61%
Property Type Multifamily Lot Size 71 SF
Property Sub-type Mobile Home/RV Community
Listing ID: 17231972 Date Created: 07/06/2011 Last Updated: 10/31/2011

Description

15.61% CAP Investment Opportunity

Spaces - 71 including one three-bedroom house

Total Homes Park Owned - 58

Tenant Owned Homes - 13 (Lot Space Lease Only)

Rent to Own - 12 Under Contract

Vacant Lots - 1

Vacant Homes - 25
- Upside Potential - $20,735 at current rental rates
- Historical Vacancy - 8-10% (With Aggressive Marketing)

2010 Financials
- Gross Income $173,959
- Expenses - $20,231
- NOI $153,727

Rental Rates
- Park Owns Units - $335 / Month (Average)
- Lots - $125 - $135 / Month (Area Competitive Rates: $145 - $150)

Provided by Owner
- Water
- Septic
- Washer & Dryer in Park Owned Units

Park 1 located on Orchard Drive with 10 Spaces. Park 2 located on Bittersweet Drive with 21 Spaces & House. Park 3 located on Mable Ridge Road with 40 Spaces.

Research

Maple Ridge, Bassett, VA 24055 (Henry County)

Bassett Market Trends - Asking price index trends, sale price trends, asking rent trends

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