HI All , we wanted to reach out to you as we have a park under contract in Christian County KY. We believe its a very good opportunity with some value add upside. We have decided to assign this opportunity
217 space MHP Value Add Opportunity-Western Kentucky
Purchase Price: $990,000
Cost per lot: $4562/site
Building Class: B
Location Class: B 60 Miles from Nashville TN
Size: 36 acres
- 217 total spaces(86 useable/rentable lots)
- 81 occupied (mostly tenant occupied SW) 9 RV and a couple of DW Homes
- 5 vacant homes(abandoned )
- City water/city sewer-flat rate charged to the tenants
- 36 acres good size lots
- Well Located, smaller market
- Seller financing offered
- The vacant pads would need to be rezoned back to Res Manufactured Housing 3-4 months cost estimate $3500 -We have Attorney has a good relationship with City Planning/Zoning.
- $175 lot rents market rents are $225+
- Located about 60 miles from Nashville TN in western KY
- 10 cap on purchase but could increase that cap rate to over 15+ in relatively short period of time.
- Value add in increasing lot rents, Adding new water meters, bringing in new management , rezoning& filling the vacant lots or keep the property as is and subdivide/sell off the remaining sites as redevelopment
- Will require about 200k in Initial Capital Expense
- Great Opportunity for Experienced Value Add Operators
- We have spent some considerable time on it and feel its a great opportunity for someone who has has the capital and experience adding value and turning around parks. More than we would prefer to take on. Thus we have decided to assign it.
- Serious and Qualified Investors Only Please, Time is of the essence.
If you have interest please click the link to the NCND https://drive.google.com/open?id=1l3rX7lsHCkTmjsPzQjeHecMMjJnmEbIl sign and return email it to email@example.com and will get you property package on it and link to all the DD we have on it. Happy to Discuss as well 760 517 6733.
Status: Under contract by Solid Property Solutions Inc.
Proof of funds is required if you would like to access the DD materials upon review of the property package
Thank you for your time and consideration.