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3211 Mayfiled Dr

Johnson City, TN 37604
  • $1,200,000
  • STATUS: Active
  • ON SITE: 10 Days
  • MLS #: 9945833
UPDATED: 55 min ago
$1,200,000
  • 0
    BEDS
  • 6.2
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Information

Elementary School:
Middle School:
High School:

Description

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.

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© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-11-28T23:00:23.253.
www.house2homesearch.com/homes/134861428
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3211 Mayfiled Dr Johnson City, TN 37604

  • Price: $1,200,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 55 min ago
  • MLS #: 9945833
0
Beds
8
Baths
0
½ Baths
6.2
Acres
County:
Washington
Elementary School:
Cherokee
Middle School:
Liberty Bell
High School:
Science Hill
Property Description
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.
Exterior Features

Exterior Finish Aluminum Siding Lot Dimensions 6.2 Style 1 Story Topography Lot Description LevelSloped

Interior Features

Ac Central Air Heating Central

Property Features

Auction No City Taxes 1363.21 County Taxes 1713.98 Easements None Foreclosure No Property Sub Type Multi-Family Sewer Septic Tank Short Sale No Water Public Zoning Commercial

Listing information © 2022 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Edward Grindstaff of Signature Properties: (423) 343-7777.



© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-11-28T23:00:23.253.
 
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Bridge Pointe Real Estate
504 E Jackson Blvd
Jonesborough TN, 37659