PRICE $1,200,000
BEDS 0
BATHS 8
HOME SIZE n/a
LOT SIZE 6.20 ac

Great Investor opportunity at 8.75% Cap Rate. Timber Ridge Mobile Home Park is a 22-pad park located on a 6.2 acre lot in Johnson City, TN. The park is presently managed and maintained by a 3rd party property management firm that is willing to stay on with a new owner. The park consists of 21 Park-Owned Homes (POH) that are all currently occupied. An extra pad is empty and ready for another mobile home. A paved road goes through the entire park. There are 2 storage buildings with extra materials for the mobile homes that convey. All homes are individually metered for electric and directly-billed to tenants. The park is currently on a regularly maintained septic system. Water and sewer costs are built into the rent. There is also the option for the next owner to invest in infrastructure to move to city sewer and water if desired. Annual income for the park is $144,120. Significant investments have been made by current owners over the past year including remodeling a third of the park that allowed for rent increases, half of the park has new split hvac units and numerous cosmetic upgrades. The park is located within 2 miles from a Walmart.

DAYS ON MARKET 17 LAST UPDATED 11/17/2022
YEAR BUILT 0 COUNTY Washington
STATUS Active PROPERTY TYPE(S) Multi Family

SCHOOLS
Elementary School Cherokee
Jr. High School Liberty Bell
High School Science Hill


ADDITIONAL DETAILS
AIR Central Air
AIR CONDITIONING Yes
CONSTRUCTION Aluminum Siding
HEAT Central
LOT 6.20 acre(s)
LOT DESCRIPTION Level, Sloped
LOT DIMENSIONS 6.2
SEWER Septic Tank
STYLE 1 Level
TAXES 3077.19
WATER Public
ZONING Commercial

SATELLITE VIEW



 
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