529-655 Meathouse Rd., Kimper KY
Commercial package includes:
69 acres
9 acres of units
60 ac of timber
Empty store
-Empty large metal building for working on semi trucks
(2)6plexes-12 units
3plex
Duplex
3/2 ba home 1348 sq ft
2/2 ba home 1008 sq ft
2/1 ba home 778 sq ft
Mobile home park
-10 mobile home slabs w city utilities
-10 mobile homes...1 is a 3br rest are 2 br
ARV: 1.4 million
Ask: 900k
Appraised Value in 2016: 813,000 (did not include mobile home park)
There is a lot of value add in this large commercial package. We even have a partner that will timber the included acres which means an additional 25k in timber into your pockets. Homes newly built within 500ft of the land have all sold for 200k or more. Properties are currently being rented under market value. Due to poor property management the Cashflow on the property is not anywhere near what it should be, currently the property is cash flowing 69k/yr which is an 8% cap. This commercial package has so much value add and the possibilities are endless.
Photos and appraisal attached separately.
This deal WILL NOT last long!!!
