Historical Multifamily Sale Listing - PRICE REDUCED - 15.61% CAP Rate - Three Moble Home

Multifamily For Sale

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PRICE REDUCED - 15.61% CAP Rate - Three Moble Home

Maple Ridge, Bassett, VA 24055

N/A

71 Spaces | Multifamily

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Price Reduced

Multifamily Property - Off Market

Price:
N/A
No. Spaces:
71
Property Type:
Multifamily
Property Sub-type:
Mobile Home/RV Community
Property Use Type:
Investment
Cap Rate:
15.61%
Lot Size:
71 SF
Listing ID
17231972
Last Updated
over 1 year ago

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.

Map of Maple Ridge, Bassett, VA 24055 (Henry County)

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