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401 Gilliam Cir
Talbott, TN 37877

Presented by

Amy Shrader

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$279,900

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Description

Money Making Investment! This 17 pad mobile home park located in West Hamblen County generates over $45,000 per year in NET income. 8 of the units are park owned; other 9 receive $170/month lot rent. 9 private owned have been in park for 13+ years. Well managed property that is conveniently located between Morristown and Jefferson City. Park sits on 2.02 acres and has 5 septic tanks. Rent includes water; each unit has their own electric meter. Onsite security guard, maintenance man, and lawn care. Motivated sellers are looking to retire from the property management business.

Gross Operating Income: $58,620

Insurance: $3000/yr

Taxes: $1251/yr

Water: $7956/yr

Electric: $600/yr

NET Operating Income: $45,769

All park owned units are 2 bed, 2 bath except for 1 that is 3 bedroom.

One of the private owned units acts as lawn guy, security guard, and general maintenance in exchange for his lot rent.

Individual lot rent is $170 per month.

Occupancy rate stays at 100%. Owners have waiting list of people wanting to move into park. Low turn over; family friendly environment.

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