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Crest Woods Mobile Home Park 1841 Grit Rd 26 Unit Mobile Home Park $1,350,000 ($51,923/Unit) 9.02% Cap Rate Hurt, VA 24563
Investment Highlights
- 26-pad community located on 13.08 acres in Hurt, Virginia.
- Stable occupancy supported by strong employment corridor near Altavista and Hurt.
- Positioned minutes from major manufacturing employers and regional distribution hubs.
- Mix of 13 park-owned homes and 13 tenant-owned homes ensuring income diversity.
- Municipal water and septic system in place with low-density layout.
- Future upside via additional acreage available for expansion or enhancements.
Executive Summary
Crest Woods Mobile Home Park offers investors a stabilized, income-producing manufactured housing community in the heart of Virginia’s growing Southside economic corridor. Located at 1841 Grit Road in Hurt, the property encompasses 26 pads across 13.08 acres, with half designated as tenant-owned homes and half as park-owned units. With approximately 6.84 acres in active use and remainder acreage available, there is opportunity for additional development or operational flexibility.
The community provides consistent cash flow supported by a strong regional employment base, including major employers such as Abbott Nutrition, Avio USA, and Graham Packaging. Positioned near Altavista and within driving distance of industrial hubs, the park benefits from reliable workforce housing demand and a history of operational stability. Municipal water and septic service are in place, along with a layout that promotes easy access and attractive site flow.
Priced at $1,350,000 and offering a projected Year 1 NOI of $121,779, this asset represents a compelling opportunity to acquire a well-maintained community in a market experiencing sustained job growth and infrastructure investment.
The community provides consistent cash flow supported by a strong regional employment base, including major employers such as Abbott Nutrition, Avio USA, and Graham Packaging. Positioned near Altavista and within driving distance of industrial hubs, the park benefits from reliable workforce housing demand and a history of operational stability. Municipal water and septic service are in place, along with a layout that promotes easy access and attractive site flow.
Priced at $1,350,000 and offering a projected Year 1 NOI of $121,779, this asset represents a compelling opportunity to acquire a well-maintained community in a market experiencing sustained job growth and infrastructure investment.
Property Facts
| Price | $1,350,000 | Apartment Style | Garden |
| Price Per Unit | $51,923 | Building Class | C |
| Sale Type | Investment | Lot Size | 13.08 AC |
| Cap Rate | 9.02% | Building Size | 13,000 SF |
| No. Units | 26 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Zoning | MHP | ||
| Price | $1,350,000 |
| Price Per Unit | $51,923 |
| Sale Type | Investment |
| Cap Rate | 9.02% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 13.08 AC |
| Building Size | 13,000 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Opportunity Zone |
Yes |
| Zoning | MHP |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 2555-97-0229 | Improvements Assessment | $262,900 |
| Land Assessment | $119,100 | Total Assessment | $382,000 |
Property Taxes
Parcel Number
2555-97-0229
Land Assessment
$119,100
Improvements Assessment
$262,900
Total Assessment
$382,000
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Crest Woods Mobile Home Park | 1841 Grit Rd
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