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Arch MHC
Updated Pricing | Fantastic Cashflow
Listing Contacts
License: VA 0225080714
License: VA 0225253602
Active
Asking Price: $1,790,000
Address
5115 Jefferson Ave, Newport News, VA 23605
Show on MapDate Added
Oct 9, 2024
Days on Market
168 days
Time Since Last Update
2 days
Details
Property TypeMobile Home Park, Multifamily
SubtypeApartment Building
Cap Rate9.70%
NOI$173,658
Units3
Pads30
Lot Size (acres)1.93
Marketing Description
Cushman & Wakefield | Thalhimer is pleased to exclusively offer for sale Arch Mobile Home Park, a 30-pad mobile home park with an additional 3 apartment structure in the sought-after Hampton Roads MSA in the city of Newport News, Virginia.
The property has 30-pads, with 24 tenant owned homes, and an additional 2500 SF apartment building with three apartments and additional storage space. Located mere miles from Huntington Ingalls Shipbuilding, the property has historically been fully occupied. Currently there are six pads available for homes giving a future owner the opportunity to add value.
This location offers a high barrier to entry for manufactured housing. With occupancy and rents historically on the rise and the growing demand for affordable housing in the area, this property is well-positioned for an ideal investment opportunity.
Size: 1.93 Acres
Zoning: MF-AC
Investment Highlights
PROPERTY ADDRESS 5115 Jefferson Avenue, Newport News, VA
# OF LOTS / APARTMENTS 30 Lots | 2,500 SF Building with 3 Apartments
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$173,658.00
$14,471.50/mo
Valuation Metrics
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0
DSCR
9.7%
Cap Rate
9.7%
ROI
Property History
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Due Diligence
Listing Contacts
- License: VA 0225080714
- License: VA 0225253602
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