Off Market deal, please reach out at 330.789.2556 with any questions.
Price is $725,000 including my fee
Property Description: The 7-acre mobile home park with 29 income-producing spots comprised of 27 mobile home spaces and 2 stick built homes. The property is located within the city limits of Little Rock, AR, less than 2 miles from Interstate 30 and within 5 minutes of the University of Arkansas, Little Rock.
Zoning: The property is zoned C3 with a conditional use granted by the City of Little Rock for use as a mobile home park. The C3 zoning is categorized as a “General Commercial District” which means the property can be used for development of a broad range of general sales and service uses. This is an attractive aspect of the property for potential future development projects.
Total income producing spots: 29
Total POH: 24 - 19 of the 24 are currently rented
Total TOH: 5
Total stick built properties: 2
Total vacant POH: 3. All of them need to be rehabbed. 5K-7K will get them each rentable again
Total rents are $10,600 monthly. Potential rents could be $12,545 once the vacant POHs are rented out
Total monthly expenses $2751. This includes insurance, property management of 10%, monthly repairs of $500, etc.