33-unit Mobile Home Park Excellent investment opportunity with very good income! Aerial image used by permission through purchase from terraserver.com
280 Milton Hwy. (Rt. 62)
Ringgold, VA Pittsylvania County
From the Danville Regional Airport, take Rt. 58 East 4.5 miles to Rt. 62 South. Go 0.15 miles south on Rt. 62. The property is on the right.
33 units on site with 22 owned by the park and 11 units owned by the tenants.
Inspection Dates Wednesday, March 2 (12-2pm) Sunday, March 6 (12-2pm)
Real Estate Auction
Friday, March 11th at 12pm
Auction at the Fraternal Order of Eagles: 5731 South Boston Hwy (Rt. 58), Sutherlin, VA 24594 From the intersection of Rt. 58 and Rt. 62, go 0.8 miles on Rt. 58 East. The Fraternal Order of Eagles building is on the north side of Rt. 58 just west of Cloverdale Lumber Company.
(434) 525-2991
VAAF93
www.countsauction.com
828 Main St, 15th Floor, Lynchburg, VA 24504
Offices in Lynchburg, Richmond, Forest, Christiansburg, Appomattox, Abingdon & Marion, VA
Terms: 5% Buyer’s Premium added to the high bid to determine contract sale price.
10% deposit due on the day of the auction with the balance due at closing within 30 days. Potential buyers must perform such independent investigations with respect to property as they deem necessary to verify information provided by the auction company and/or seller. All information provided by the auction company and/or seller is deemed reliable but not warranted. All property is being sold “as is” without representations or warranties of any kind or nature. Please inspect the property before bidding. All sales are final. Announcements made the day of the auction take precedence over all prior releases, verbal and written, concerning this sale. The auction company and its representatives represent the seller.
Mobile Home Park
2009
2010
Market Income
Rent
$132,711
$103,473
$195,840
max. gross
Vacancy
$0
$0
$29,376
less 15% vacancy
Net Rent
$132,711
$103,473
$166,464
esti. net rent
Electricity
$30,940
$44,973
$55,000
estimated
Repairs
$13,972
$5,529
$10,000
estimated
Taxes
$2,362
$2,371
$2,371
estimated
Labor
$8,598
$10,891
$10,000
estimated
Other
$1,664
$4,524
$5,000
estimated
Total Exp.
$57,536
$68,288
$82,371
estimated
Income
$75,175
$35,185
$84,093
estimated
Auction March 11 at 12pm th
At the Fraternal Order of Eagles: 5731 South Boston Hwy (Rt. 58) Sutherlin, VA 24594
280 Milton Hwy. (Rt. 62)
Ringgold, VA
9.25± Acres
Most owned units have washer and dryers installed The grounds are well kept with good spacing between the units. See attached spreadsheet regarding rent roles and other unit information. Unit #33 and the 30’ x 40’ building will convey but will have a life estate. 4 wells are on the property
in Pittsylvania County
Unit
Rent
Per
Ownership
BR
Heat Pump
Septic Sys.
1
$160
week
owner
3
yes
share with #2
2
$160
week
owner
3
yes
share with #1
3
$160
week
owner
3
yes
share with #4
4
$160
week
owner
2
no
share with #3
5
$160
week
owner
3
yes
6
$160
month
tenant
7
$160
week
owner
3
yes
8
$160
week
owner
3
yes
share with #7
9
$160
week
owner
2
yes
share with #10
10
$160
week
owner
2
yes
share with #9 share with #12
share with #6 share with #5 share with #8
11
$160
week
owner
2
yes
12
$160
week
owner
3
yes
share with #11
13
$160
week
owner
3
yes
share with #14
14
$160
week
owner
2
yes
share with #13
15
$160
week
owner
2
no
share with #16
16
$160
month
tenant
17
$160
month
tenant
18
$160
week
owner
2
yes
individual system
19
$160
week
owner
3
yes
individual system
20
$160
week
owner
3
no
21
$160
month
tenant
individual system
22
$160
month
tenant
individual system
23
$160
month
tenant
individual system
24
$160
week
owner
25
$160
month
tenant
26
$160
week
27
$160
28
$160
29
share with #15 individual system
individual system
2
yes
individual system
owner
3
yes
individual system
week
owner
3
yes
individual system
week
owner
3
yes
individual system
$160
month
tenant
individual system
30
$160
month
tenant
individual system
31
$160
month
tenant
individual system
32
$160
month
tenant
individual system
33
n/a
n/a
owner
individual system
3
yes
individual system
Sale Manager: Pete Ramsey (434) 258-6611
Call for detailed information package to be mailed or emailed.
On Top of the Auction World MARKETING AROUND THE CORNER AND AROUND THE GLOBE