Mobile Home Park

Multi-Family for Sale
Catylist Listing ID: 30053671
Property Subtypes: Mobile Home Park
Number of Units: 11 Units
Building Size (RSF): 9,000 SF
Gross Land Area: 1.64 Acres
Sale Price: $275,000
Unit Price: $25,000 Per Unit
Property Use Type: Investment
Building Name: Emmett Street Mobile Home Park
Sale Terms: Cash to Seller
Cap Rate: 11.8%
Average Occupancy Rate: 85
Last Updated: 9/26/2017

Overview / Comments

Located on the West side of Kingsport, TN and near multiple industrial employers and the areas largest hospital. Less than 5 miles from Walmart. This property contains 11 mobile home sites on 8 parcels. All homes are park owned with some residents tenancy over 25 years. Tenant pays all utilities. Park is fully functional with City of Kingsport Water & Sewer. All titles are free and clear.

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $2,927 (Annual)
Tax Value Land $45,000
Tax Value Improvements $183,000
Potential Rental Income $4,175 (Annual)
Net Operating Income $3,100 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Sullivan
Percent Occupied: 85%
Property Located Between: Kingsport TN & Lynn Garden Community
Airports: Tri Cities, TN
Site Description: Established , small mobile home community with paved roads, city water and sewer.
Total Number of Buildings: 11
Property Condition: Average
Zoning Description: Multi Family
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Owner
Legal Description: See aerial rendering.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,914 36,767 65,191
Median Age: 39.55 43.28 43.71
Households: 4,861 16,386 28,625

Contact

Photograph of Listing Agent

Gregory S Little, MBA

Covenant Commercial Group NETAR CMLS Member
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