Rolling Hills MHP & Storage | 162 Shanks Gap Rd
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Rolling Hills MHP & Storage 162 Shanks Gap Rd
28 Unit Mobile Home Park £1,173,675 (£41,917/Unit) 9% Net Initial Yield Rogersville, TN 37857
Investment Highlights
- City Water, Septic Sewer
- All Vacant lots ready with utilities, foundation and french drain in place
- Tenants Cover Utilities
- Paved Private Road
- On-sight manager
Executive Summary
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.
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.
Property Facts
| Price | £1,173,675 | Property Type | Residential |
| Price Per Unit | £41,917 | Property Subtype | Manufactured Housing/Mobile Home |
| Sale Type | Investment | Number of Floors | 1 |
| Net Initial Yield | 9% | Year Built | 1980 |
| No. Units | 28 | Opportunity Zone |
Yes
|
| Price | £1,173,675 |
| Price Per Unit | £41,917 |
| Sale Type | Investment |
| Net Initial Yield | 9% |
| No. Units | 28 |
| Property Type | Residential |
| Property Subtype | Manufactured Housing/Mobile Home |
| Number of Floors | 1 |
| Year Built | 1980 |
| Opportunity Zone |
Yes |
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PROPERTY TAXES
| Parcel Number | 053-038.75 | Improvements Assessment | £29,545 |
| Land Assessment | £17,840 | Total Assessment | £47,385 |
PROPERTY TAXES
Parcel Number
053-038.75
Land Assessment
£17,840
Improvements Assessment
£29,545
Total Assessment
£47,385
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Rolling Hills MHP & Storage | 162 Shanks Gap Rd
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