Bon Aire Estates Mobile Home Park | 8948 New Bowling Green rd
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Bon Aire Estates Mobile Home Park 8948 New Bowling Green rd
37 Unit Mobile Home Park $745,000 ($20,135/Unit) 10.81% Cap Rate Smiths Grove, KY 42171
Executive Summary
37 lot park, well maintained sitting on approximately 4.5 acres. . Lot rents at 275 currently so room to improve that in the future. High demand for rentals in the area. New rental rates are 800-850 a month. Many homes have been extensively renovated in the park. City water that is individually metered. Park has it's own sewer treatment plant. Lots of upside with 17 vacant lots to fill up. Some of these lots could possibly be turned into rv lots. One of the owners (Stewart Phillips) is a licensed real estate agent.
Property Facts
| Price | $745,000 | Property Type | Multifamily |
| Price Per Unit | $20,135 | Property Subtype | Manufactured Housing/Mobile Home |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 10.81% | Building Size | 20,000 SF |
| Gross Rent Multiplier | 7.4 | No. Stories | 1 |
| No. Units | 37 | Year Built/Renovated | 1970/2023 |
| Price | $745,000 |
| Price Per Unit | $20,135 |
| Sale Type | Investment |
| Cap Rate | 10.81% |
| Gross Rent Multiplier | 7.4 |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Building Size | 20,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2023 |
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Bon Aire Estates Mobile Home Park | 8948 New Bowling Green rd
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