2-98 Triple Court DR, Honaker, VA 24260
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2-98 Triple Court DR, Honaker, VA 24260
2-98 Triple Court DR, Honaker, VA 24260
2-98 Triple Court DR, Honaker, VA 24260
2-98 Triple Court DR, Honaker, VA 24260
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Dominic McIntyre

Dominic McIntyre

+1(423) 483-2784
$ 770,000
Est. payment /mo
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2-98 Triple Court DR Honaker, VA 24260

3.92 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Not In Subdivision

MLS Listing ID 10003033

HOA Y/N No

Year Built 2000

Lot Size 3.920 Acres

Acres 3.92

Lot Dimensions 3.92

Source Tennessee/Virginia Regional MLS

Property Description

INVESTMENT OPPORTUNITY - TWO ESTABLISHED MOBILE HOME PARKS OFFERED TOGETHER FOR $770,000! Excellent opportunity to acquire two income-producing mobile home parks in Southwest Virginia--Shady Oaks MHP in North Tazewell and Triple Court MHP in Honaker. Both parks feature primarily tenant-owned mobile homes, providing steady rental income with relatively low owner maintenance. SHADY OAKS MHP - NORTH TAZEWELL, VA: 18-pad mobile home park with 14 pads currently rented at $200 per month on month-to-month rentals. Tenants own their mobile homes, utilities are separately metered, and tenants are responsible for their own utility expenses. Property has 17 septic systems, with Lots 1 and 3 sharing a septic. When septic pumping is required, the expense is shared 50/50 with the applicable tenant. Only one septic has required pumping within the past year. A site manager handles mowing and general property maintenance for $200 per month. Four vacant pads offer additional income potential. TRIPLE COURT MHP - HONAKER, VA: Established park with 14 occupied pads currently renting for $200 per month on month-to-month rentals, generating approximately $33,600 in annual gross lot rent. Tenants own their mobile homes, utilities are separately metered, and tenants pay their own utilities. The park is served by public water and public sewer with an annual exterior lighting expense of approximately $276. Four additional vacant lots offer immediate potential for increased rental income. Triple Court may also offer additional expansion potential, with space that could potentially accommodate approximately 5-7 additional mobile home pads, subject to zoning, permitting, utility availability and all applicable governmental approvals. This provides an investor with an opportunity to potentially increase the park's future income beyond the existing and currently vacant sites. Together, the two properties currently offer 28 occupied rental pads plus 8 vacant pads/lots, generating approximately $67,200 in annual gross lot rent at the current $200 monthly rate. Filling the existing eight vacant sites at the same rental rate could increase combined gross lot rent to approximately $86,400 annually. If an additional 5-7 pads can be developed at Triple Court and rented at the current $200 monthly rate, that could provide another $12,000-$16,800 in potential annual gross income, bringing potential combined annual gross lot rent to approximately $72,600-$77,400, subject to development and approval of the additional sites. A great opportunity for an investor seeking established income, tenant-owned homes, low maintenance, additional vacant sites and significant potential for future expansion and income growth. Two parks. Two Southwest Virginia locations. One investment opportunity - offered together at $770,000.

Location

State VA

County Russell

Community Not In Subdivision

Area 3.92

Zoning Comm

Direction Directions to Shady Oaks: From Pounding Mill, travel toward Bluefield for 25 minutes. Just past Destiny Outreach Church turn R onto Roma Rd. Mobile Home Park and sign straight ahead. Directions to Triple Court:At Rt 19/80 at Rosedale, travel toward Honaker for 5 miles. Turn R on Putnam Bypass

Interior

Heating See Remarks

Cooling See Remarks

Equipment None

Heat Source See Remarks

Exterior

Utilities Available Sewer Available, Water Available, See Remarks

Roof Type See Remarks

Road Frontage County Road

Building

Sewer Public Sewer, Septic Tank

Water Public

Structure Type See Remarks

New Construction No

Others

Senior Community No

Tax ID 76r Sd 2111a

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Connie Comer • Cedar Realty Group

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Dominic McIntyre

Dominic McIntyre

REALTOR® License ID: 358018

+1(423) 483-2784

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