4 Locust St
Hopkinsville, KY 42240
Ashwood Village · Multifamily Property For Sale · 108,750 SF

MHRE is pleased to present Ashwood Village Mobile Home Park and Self-Storage located in Hopkinsville, KY. The community was originally built in 1974 and consists of 44 self-storage units and 145 mobile home sites, which includes 143 park owned homes and 2 site rentals. In 2008, the community went through a large renovation which includes, but is not limited to, the owner bringing in 103 new single-wide homes built in 2008 or later, completely renovating approximately 29 homes within the community, improving the grounds, and an electrical upgrade, etc. Currently, approximately 10 of the inventory homes are ready to be renovated which would create immediate upside for a new owner. Hopkinsville is a strong rental market with very little comparable mobile home park or apartment competition. Ashwood Village is a more desired rental option considering the competition for rentals are older apartments that are in average to below average condition. This is evident by the 89% occupancy at the community and a waiting list for rentals. In the beginning of 2017, the current owner put in place a water and sewer reimbursement fee of $60 which will be incorporated into all leases as they renew over the year. This adjustment adds approximately $100,000 of additional revenue which will go straight to the bottom-line.