Rock Estates Mobile Home Park
Rock Estates - Mobile Home Community | 7.26% CAP
Marketing description
Multifamily Property Advisors is pleased to present the exclusive opportunity to acquire Rock Estates Mobile Home Park, a 33-site manufactured housing community strategically located along East Washington Street in North Little Rock, Arkansas — the dynamic north shore of the Little Rock-North Little Rock-Conway MSA.
The Property offers an exceptional value-add opportunity for an incoming operator. With 19 of 33 sites currently occupied and homes renting at $325–$375/month, a new owner can capture meaningful upside by (1) infilling the 14 vacant sites, (2) marking rents to a market-supported $425+ per month, and (3) maintaining the Community's highly efficient direct-bill utility structure.
Critically, the Community is direct billed for city water and sewer — eliminating the single largest operating expense and reimbursement headache faced by most park owners. The Property's flat topography, paved interior road, and city-served infrastructure offer turnkey operational simplicity rarely found at this price point.
At an asking price of $1,089,000 ($33,000 per site), the Property is priced well below replacement cost and below comparable manufactured housing transactions in the Central Arkansas market.
Investment highlights
- 33 total sites with only 19 currently occupied — incoming ownership can drive NOI growth by adding 5 homes per year until full stabilization in Year 3.
- Current lot rents of $325–$375 sit meaningfully below the $425+ supported by comparable Central Arkansas MHC communities.
- Directly billed by the City of North Little Rock for water and sewer — eliminating the single largest operating burden for park owners.
- Positioned in the Little Rock–North Little Rock–Conway MSA (750,000+ residents) — Arkansas's economic, governmental, and healthcare hub.
- Demand supported by Little Rock Air Force Base (Arkansas's 6th-largest employer at $1.38B impact), CHI St. Vincent, Baptist Health, and the Port of Little Rock.
- Predominantly tenant-owned homes (18 of 19 occupied) means low capex burden — operator collects lot rent only.
- At $33,000 per site, offered well below the $50,000–$75,000 per-site replacement cost for new MHC development in Arkansas.
- Predominantly 2BR/2BA homes, paved interior road, established infrastructure — turnkey profile ideal for an owner-operator.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
