Pine Grove Mobile Home Park

Transcription

1 Pine Grove Mobile Home Park 73 Jane Drive Munford, TN For more information contact: Cathy Anderson, CCIM Beautifully maintained 64 lot mobile home park for sale Property includes 7 fully leased apartments Includes 10 min-storage units on-site for lease Over $334,140 in Gross Rents/year Offered at $2,850,000 Phone: Quail Hollow Road, Ste. 401 Memphis, TN

2 Pine Grove Mobile Home Park 73 Jane Drive Munford, TN Property Description Cathy Anderson, CCIM Pine Grove Mobile Home Park Unique diversified complex Welcome to Pine Grove Mobile Home Park in beautiful Munford, TN. Park is located just over the Shelby County line in Tipton County, TN and offers an opportunity to acquire a truly unique property. Pine Grove not only offers a 64 pad mobile home park, but includes within the same parcel a 7 unit apartment complex and a 10 unit min-storage facility. Sellers have owned this property since the 1990's and has operated the entire property themselves. This is a well-maintained, quiet community with a very friendly atmosphere. Location is close enough to Memphis, TN, that many residents commute to work daily. The owners have decided to explore other ventures and are offering this property for sale. There are 64 pads, 13 of which are tenant owned homes. The remaining homes are park-owned and rent between $350 - $650/month, depending on size and age of home. All pads are 200 amps with city water. Waste supplied by private lagoon, which requires little maintenance and testing approximately every 10 years. All pads are separately metered for electric and water and each tenant is responsible for paying their own utilities. Park owners are responsible for paying taxes, insurance on park, repairs on homes and common electric/water. There is a very attractive owner's/manager's home on site which also has a separate office entrance for park matters. This home is included in the sale. Priced at $2,850,000. Call for additional information. page 2 of 18

3 PINE GROVE MOBILE HOME PARK 73 JANE DRIVE MUNFORD, TN PHOTOS

4 Pine Grove Mobile Home Park Property Photos 73 Jane Drive Munford, TN Cathy Anderson, CCIM Pine Grove Mobile Home Park Owner's/Manager's House Exterior Kitchen More kitchen Master Bedroom Master Bath page 4 of 18

5 Pine Grove Mobile Home Park Additional Photos

6 Pine Grove Additional Photos(2)

7 Pine Grove Additional Photos (3)

8 PINE GROVE MOBILE HOME PARK 73 JANE DRIVE MUNFORD, TN FINANCIALS

9 PINE GROVE RENT ROLL Pad/Home Rental Monthly Rent Annual Rent Size 1 $ $7, Bedroom 2 $ $7, Bedroom 3 $0.00 $0.00 Empty Lot 4 $ $6, Bedroom 5 $ $7, Bedroom 6 $ $6, Bedroom 7 $ $4, Bedroom 8 $ $4, Bedroom 9 $ $4, Bedroom 10 $ $4, Bedroom 11 $ $4, Bedroom 12 $ $6, Bedroom 13 $ $6, Bedroom 14 $ $5, Bedroom 15 $ $5, Bedroom 16 $ $5, Bedroom 17 $ $2, Lot Rent 18 $ $6, Bedroom 19 $ $2, Lot Rent 20 $ $5, Bedroom 22 $0.00 $0.00 Free lot rent for worker 23 $ $2, Lot Rent 24 $ $2, Lot Rent 25 $ $6, Bedroom 27 $ $7, Bedroom 28 $ $7, Bedroom 29 $ $2, Lot Rent 30 $ $2, Lot Rent 31 $ $6, Bedroom Crye-Leike s #1 Commercial Agent 2015 Lifetime Member Multi-Million Dollar Club Cathy Anderson, CCIM Vice President Office: (901) Cell: (901) Efax: (901) cathy.anderson@crye-leike.com Page 1 of 3

10 PINE GROVE RENT ROLL (con't) 32 $ $7, Bedroom 33 $0.00 $0.00 Needs repair 34 $ $6, Bedroom 35 $0.00 Needs repair 36 $ $4, Bedroom 37 $ $4, Bedroom 38 $ $6, Bedroom 39 $ $4, Bedroom 40 $ $5, Bedroom 41 $ $5, Bedroom 42 $ $6, Bedroom 43 $ $6, Bedroom 44 $ $2, Lot Rent 45 $ $5, Bedroom 46 $ $7, Bedroom 47 $ $2, Lot Rent 48 $ $6, Bedroom 49 $ $2, Lot Rent 50 $0.00 $0.00 Empty lot 51 $ $4, Bedroom 52 $ $5, Bedroom 53 $0.00 $0.00 Garage 54 $ $5, Bedroom 55 $ $6, Bedroom 56 $ $6, Bedroom 57 $ $6, Bedroom 58 $0.00 $0.00 Empty lot 59 $ $6, Bedroom 60 $ $2, Lot Rent 61 $ $7, Bedroom 62 $ $2, Lot Rent 63 $ $5, Bedroom 64 $ $7, Bedroom 65 $ $2, Lot Rent 66 $ $7, Bedroom $25, $309, Crye-Leike s #1 Commercial Agent 2015 Lifetime Member Multi-Million Dollar Club Cathy Anderson, CCIM Vice President Office: (901) Cell: (901) Efax: (901) cathy.anderson@crye-leike.com Page 2 of 3

11 PINE GROVE RENT ROLL (con't) Apartment Rental: Monthly Rent: Annual Rent: A $ $7, (two bedroom) B $ $7, (two bedroom) C $ $7, (two bedroom) D $ $7, (two bedroom) A $ $6, (one bedroom) B $ $7, (two bedroom) C $ $8, (two bedroom) $4, $52, Mini-Storage Rental: Monthly Income: Annual Income: 1 $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $45.00 $ $ $5, Crye-Leike s #1 Commercial Agent 2015 Lifetime Member Multi-Million Dollar Club Cathy Anderson, CCIM Vice President Office: (901) Cell: (901) Efax: (901) cathy.anderson@crye-leike.com Page 3 of 3

12 Pine Grove Financials Annual Renal Income: Park: $309, Apartments: $52, Mini-storage: $5, Total Gross Rents: $367, Less Vacancy (5%): $18, Total Rental Income: $348, Expenses: Taxes: $6, (Apartments $3336, Residence $764, Park-owned homes $2255) Insurance: $2, (park and apartments) Insurance: $ (owner's home) Common Electric: $4, Repairs: $52, (actual 2016 repairs) Total Expenses: $66, NOI: $282, Offered at $2,850, cap

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15 PINE GROVE MOBILE HOME PARK 73 JANE DRIVE MUNFORD, TN MAPS

16 Pine Grove Mobile Home Park 73 Jane Drive Munford, TN Location Map Cathy Anderson, CCIM page 16 of 18

17 Pine Grove Mobile Home Park 73 Jane Drive Munford, TN Aerial Map Cathy Anderson, CCIM page 17 of 18

18 Pine Grove Mobile Home Park 73 Jane Drive Munford, TN Regional Map Cathy Anderson, CCIM page 18 of 18