1600 Page St - Manufactured Housing/Mobile Housing FOR SALE


Springfield, TN 37172
$880,000 USD
615-973-5373
1600 Page St, Springfield, TN for Sale
$880,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/20
null | 10.22% Cap Rate

1600 Page St
Springfield, TN 37172


HIGHLIGHTS

  • Opportunity for new ownership to increase rents by $102 to match the current market rate
  • Individually metered for water and electric
  • Homes are on city sewer
  • 10 single-wide homes, 9 are park-owned homes and 1 is a tenant-owned-home

OVERVIEW

Link to Deal Room & Financials: https://www.marcusmillichap.com/properties/177062/page-street-mhp Marcus & Millichap has been selected to exclusively market for sale the Page Street MHP in Springfield, TN. This offering will allow a potential investor to purchase a rare investment opportunity located in the Nashville, TN MSA. Page Street Mobile Home Park presents a compelling value-add investment opportunity in Springfield, TN, just 40 minutes (28.5 miles) from Nashville via Interstate 24. Conveniently located near major retailers, grocery stores, restaurants, and shopping centers. The park consists of 10 single-wide homes, with 9 park-owned homes (POH) and 1 tenant-owned home (TOH). With below-market rents, new ownership has the opportunity to increase rents by $102 per unit to align with market rates, unlocking immediate revenue growth. 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 PAGE STREET MHP.

FOR SALE DETAILS

PRICE

$880,000 USD

PRICE/SF

$81 USD /SF

# OF UNITS

10

PRICE/UNIT

$88,000

CAP RATE

10.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Page Street MHP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.06 AC

LAND SF

89,734 SF

ZONING

-

APN/PARCEL ID

091C-D-061.00

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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