Would you buy this Bracey Virginia MH Park?

mobile home university
1

Happy new year all.

Property Website http://properties.svn.com/900244-sale
Adam Catrambone
804.629.5855
Adam.Catrambone@SVN.com

Property Details
Price $300,000
Number of Spaces 7
Total Lot Size 4.9 Acres

SVN Motleys is pleased to present this 5± acre Mobile Home Park in Bracey, VA. This is an income-producing investment opportunity, with plenty of land for future expansion.

Current Monthly Rental Income: $2,900
Current Annual Rental Income: $34,800

Highlights

  • Five (5) Single Wide Trailers
  • One (1) Double Wide Trailer
  • One (1) Single Family House (3 Bedrooms, 1,330 ± SF)
  • Well & Septic – Electric Available
  • 4.9± AC
  • Assessed at $162,400
  • 2019 Annual Taxes: $682
  • Lake Gaston - 28 miles
  • Lake Kerr - 35 miles
2

I personally would not buy a park that small especially with all POHs. The expenses would be well above the 50% mark making the property far too much work and not worth 300K.
Unless rents are far below market and potentially able to be doubled it really isn’t very attractive.