150 Spring Park Rd - Manufactured Housing/Mobile Housing FOR SALE


Magnolia, KY 42757
$385,000 USD
615-997-2878
150 Spring Park Rd, Magnolia, KY for Sale
$385,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/19
null | 5.36% Cap Rate

150 Spring Park Rd
Magnolia, KY 42757


HIGHLIGHTS

  • The property consists of 11 total lots, with 10 tenant-owned homes currently in place.
  • The property is on city water, and lots are individually metered for electricity and put in tenants names
  • Large lots and open space create flexibility for long-term improvements or additional lot development
  • Quiet rural setting appealing to long-term residents while remaining close to amenities in Hodgenville and Elizabethtown

OVERVIEW

Marcus & Millichap has been selected to exclusively market for sale the Spring Park Mobile Home Park in Magnolia, KY. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the heart of Kentucky. Spring Park MHP is a low-density, 5.51 acre mobile home community featuring eleven tenant-owned home lots, offering stable income with minimal management needs. The property provides ample open space and straightforward operations while serving long-term residents in a quiet Magnolia setting with convenient access to Hodgenville and Elizabethtown. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Spring Park MHP.

FOR SALE DETAILS

PRICE

$385,000 USD

PRICE/SF

$2 USD /SF

# OF UNITS

11

PRICE/UNIT

$35,000

CAP RATE

5.36%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Spring Park MHP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.51 AC

LAND SF

240,016 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Daniel CosgroveMarcus & MillichapMore Info
615-997-2878

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Daniel CosgroveMarcus & MillichapMore Info
615-997-2878

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.