Mobile Home Park - Beautiful Mountain Setting!

West Jefferson, NC (Ashe County)

Seller Financing Available
Mobile Home Park - Beautiful Mountain Setting!

Asking Price:$899,000

Gross Revenue:$156,000

Price/Sq. Ft.:N/A

NOI:$102,000

Building Sq. Ft.:N/A

FF&E:$472,500

Year Built:N/A

Mobile Home Park - Beautiful Mountain Setting!

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Property Description

Almost 13 acre established SUBDIVISION MOBILE HOME PARK!. Includes three rental houses, eighteen single wide rental mobile homes, two rental modulars, a workshop and two lot rentals. Twenty seven total lots available. Over one mile of internal roads, some of them paved. One high producing well provides water/septic sewer. Stable residents ....many have been here for years. Fourteen HUD units. Park owns all but two of the rental units; owner has valued mobile home/modular and house value @ $472,500. Additional units are being added. All units have been remodeled in the last 4 years. Recent appraisal for near asking price. 2015 revenue was $138,618. . Owner showed 2015 net of $91,378, making for a CAP rate of 10%, if you paid full price! 2016 revenue target is $175,200, partially because of HUD payments rising and addition of another unit. One mobile home is upfitted as a nice office and the handyman lives in another. All units have been remodeled in the last four years. Because of the economy of Ashe County, NC, this park will remain full. Homes are spread out with large yards. Possible partial owner financing. A local bank paid for the recent appraisal (Near asking price!) and reportedly is eager to finance also, for a good credit buyer. GREAT INVESTMENT PROPERTY! CALL US!

Detailed Information

Type:
Multi-Family
Building Status:
Established
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
-Just under 13 Acres -Three houses - Eighteen single wide mobile homes -Two Double Wides -1,680 sf workshop / maintenance shed -Three lot rentals -27 total lots 12.81 Acres
Financing:
Bank has stated will lend most of purcase price to good credit buyer!
Location Description:
In the county but near town. Gorgeous mountain views.

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David P. Conrad

Property Listed By:
David P. Conrad

Blue Ridge Business Brokerage

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