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Spring Park MHP 150 Spring Park Rd 11 Unit Mobile Home Park $385,000 ($35,000/Unit) 5.36% Cap Rate Magnolia, KY 42757
Investment Highlights
- The property consists of 11 total lots, with 10 tenant-owned homes currently in place.
- Large lots and open space create flexibility for long-term improvements or additional lot development
- The property is on city water, and lots are individually metered for electricity and put in tenants names
- Quiet rural setting appealing to long-term residents while remaining close to amenities in Hodgenville and Elizabethtown
Executive Summary
Marcus & Millichap has been selected to exclusively market for sale the Spring Park Mobile Home Park in Magnolia, KY. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the heart of Kentucky.
Spring Park MHP is a low-density, 5.51 acre mobile home community featuring eleven tenant-owned home lots, offering stable income with minimal management needs. The property provides ample open space and straightforward operations while serving long-term residents in a quiet Magnolia setting with convenient access to Hodgenville and Elizabethtown.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Spring Park MHP.
Spring Park MHP is a low-density, 5.51 acre mobile home community featuring eleven tenant-owned home lots, offering stable income with minimal management needs. The property provides ample open space and straightforward operations while serving long-term residents in a quiet Magnolia setting with convenient access to Hodgenville and Elizabethtown.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Spring Park MHP.
Property Facts
| Price | $385,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $35,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 5.51 AC |
| Cap Rate | 5.36% | Building Size | 174,240 SF |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1900 |
| Price | $385,000 |
| Price Per Unit | $35,000 |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 5.51 AC |
| Building Size | 174,240 SF |
| No. Stories | 1 |
| Year Built | 1900 |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Not bikeable
10/100
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Spring Park MHP | 150 Spring Park Rd
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