162 Shanks Gap Rd - Manufactured Housing/Mobile Housing FOR SALE


Rogersville, TN 37857
$1,500,000 USD
714-642-5997
162 Shanks Gap Rd, Rogersville, TN for Sale
$1,500,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
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162 Shanks Gap Rd
Rogersville, TN 37857


HIGHLIGHTS

  • City Water, Septic Sewer
  • Paved Private Road
  • All Vacant lots ready with utilities, foundation and french drain in place
  • On-sight manager
  • Tenants Cover Utilities

OVERVIEW

Rolling Hills Mobile Home Park and Self Storage in Rogersville, Tennessee. This deal allows for the rare opportunity to acquire a cash-flowing asset with competitive rents and further potential upside through infilling vacant lots and storage. The park sits on 6 acres and consists of 28 lots with a storage building made up of 14 units. It has a current mix of 19 park-owned homes & 1 tenant-owned home with the remaining sites broken up as follows - 6 vacant lots ready to go, 1 lot used as an office that can be converted into a park-owned home, and 1 lot where the manager resides. This well-maintained community includes city water/septic utilities. All utilities are directly billed to the tenants, offering lower operating expenses with very little management needed. There currently is an on-site manager, running all the day-to-day operations within the community. Aside from living in the community for free, she also receives a salary of .25% of the total monthly gross.

FOR SALE DETAILS

PRICE

$1,500,000 USD

# OF UNITS

28

PRICE/UNIT

$53,571

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rolling Hills MHP & Storage

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

053-038.75

ASK ABOUT THIS PROPERTY

Omar AlassadiMHP BrokerageMore Info
714-642-5997

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Omar AlassadiMHP BrokerageMore Info
714-642-5997

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.