Mobile Home lots up n running and looking for a new investor to add to their portfolio! This 5.74 acre tract consists of 7 lots. 6 lots are cleared set up. There are currently 5 mobile homes in place (tenants own the homes and rent the land). 1 lot is vacant right now and the 7th lot has not been cleared but has previously passed a Perk test! So, you could clear and get that lot in operation as well!Each lot has a private septic system in place. Current owner has owned since the 80's and has not raised rent in over a decade. He currently receives $140 lot rent per month = $980 (could be more if other 2 lots put to use!) Of course, the lot rent could be raised to current market values by new owner!Dirt roads are maintained by the county!Great opportunity, go check it outCurrent owner has owned since the 80's and has not raised rent in over a decade. He currently receives $140 lot rent per month = $980 *Similar lots in the area comp at $200 - $225 per lot per month, so rent could definitely be adjusted! Renting all lots at Fair current fair market would be an $1,575.00 per month income!! Putting this investment at an over 22% CAP RATE!! A fantastic ROI. Dirt roads are maintained by the county! Water supply is public! Great opportunity, go check it out!
Lots are definitely oversized.. Possibly split them in half and make twice the lots? or more...
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