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3211 Mayfiled Dr, Johnson City, TN 37604 - $995,000

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Bedrooms: 0 Full Bathrooms: 0 Half Bathrooms: 0
Type: Multi-Family Sub Type: Multi-Family MLS Number: 9945833
Living Area: 0 Lot Acreage: 6 Year Built:
Elementary School: Cherokee Middle School: Liberty Bell High School: Science Hill
Property Description
Great Investor opportunity at 11% 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.
  • More Listing Info
    Location_sp_Tax_sp_Legal_sp_Info_co_City_sp_Taxes1363.21
    Location_sp_Tax_sp_Legal_sp_Info_co_County_sp_Taxes1713.98
    General_sp_Property_sp_Description_co_Lot_sp_Dimensions6.2
    General_sp_Property_sp_Description_co_Acres6.2
    General_sp_Property_sp_Description_co_Zoning2Commercial
    General_sp_Property_sp_Description_co_Total_sp_Units21
    Exterior_sp_Finish_co_Aluminum_sp_SidingYes
    Unit_sp_1_co__pound__sp_Bathrooms52
    Unit_sp_2_co__pound__sp_Bathrooms42
    Style_co_1_sp_StoryYes
    Unit_sp_3_co__pound__sp_Bathrooms32
    Unit_sp_4_co__pound__sp_Bathrooms22
    Heating_co_CentralYes
    AC_co_Central_sp_AirYes
    Water_co_PublicYes
    Sewer_co_Septic_sp_TankYes
    TopographyLot_sp_Description_co_Level2Yes
    TopographyLot_sp_Description_co_SlopedYes
    Easements_co_None12Yes
    Videos: (none)
    Virtual Tours: (none)
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