214 Woodlawn Ave E - Manufactured Housing/Mobile Housing FOR SALE


Jamestown, TN 38556
$435,000 USD
615-973-5373
214 Woodlawn Ave E, Jamestown, TN for Sale
$435,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/21
null | 5.02% Cap Rate

214 Woodlawn Ave E
Jamestown, TN 38556


HIGHLIGHTS

  • 15 tenant-owned homes currently in place, providing stable income with limited maintenance responsibility
  • 5 vacant pads offer clear infill upside with the ability to bring in single-wide mobile homes
  • In-place lot rent of $160 per pad increasing to $250 effective May 1, driving immediate NOI growth
  • Individually metered utilities across all lots with city water and sewer, minimizing owner expense exposure
  • Simple, scalable operating model well suited for a first-time or expanding manufactured housing investor

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/204666/colonial-circle-mhp Marcus & Millichap has been selected to exclusively market for sale the Colonial Circle Mobile Home Park, a rare value-add investment opportunity located in Jamestown, Tennessee. The Colonial Circle MHP is a 20-lot manufactured housing community in Jamestown, Tennessee offering immediate income growth and infill upside. The property includes 15 tenant-owned homes and 5 vacant pads suitable for single-wide placement, along with a scheduled rent increase from $160 to $250 per lot coming at the beginning of June. Individually metered utilities with city water and sewer support a low-expense operating profile, positioning the asset to benefit from strong and growing demand for affordable housing in Fentress County. 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 Colonial Circle MHP.

FOR SALE DETAILS

PRICE

$435,000 USD

PRICE/SF

$453 USD /SF

# OF UNITS

20

PRICE/UNIT

$21,750

CAP RATE

5.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colonial Circle MHP

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.86 AC

LAND SF

81,022 SF

ZONING

-

APN/PARCEL ID

025063G D 02001,063G-D-002.00,063G-D-003.00,063G-D-003.01,063G-D-020.00,063G-D-021.00

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 Notice.