Rockingham Mobile Home Park
Mobile Home Park | 19 Pads
Marketing description
Rare opportunity to acquire a 19 lot mobile home park in Elkton, Virginia. Situated on 1.83 acres with consistent rental demand, this property
delivers day one cash flow alongside a well defined path to meaningfully higher returns. Current lot rents sit well below prevailing market rates, giving new ownership
a clear, executable rent growth strategy. Even conservative adjustments produce a material lift in net operating income. An electrical system upgrade has been
identified and scoped, providing a concrete improvement project with known costs that strengthens the asset long term and supports rent repositioning. Mobile home
parks in this region rarely come to market, and fewer still offer both stable occupancy and a credible value add story. This one does. Resilient rental demand in the area
limits downside while the embedded upside does the heavy lifting. Cash flow from day one. Below market rents ready to move. A defined capital project that adds
lasting value. Don't miss your chance to acquire a supply constrained, income producing asset that checks every box.
Investment highlights
19 pads - 17 tenant owned, 1 park owned. Front 9 on public water and sewer , back 10 on public water and septic. Current gross income is
approximately $75,000 annually with in place NOI estimated at $52,700 after normalizing expenses and removing debt service and owner specific items, with an
approximate 7.2% cap rate at the list price. Current lot rents around $300/month for tenant owned. Buyer to be aware the Town has
identified a required electrical system upgrade. Buyer to verify scope, timing, and cost. Financials and rent roll available upon request.
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