1 Ez LnManchester, TN 37355

Property Details for 1 Ez Ln

Year built

1998

Lot size

14.19 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 14.19-acre mobile home park in Manchester, Tennessee, presents a compelling value-add investment opportunity. The property features 16 mobile home units situated on 16 pads, built in 1998. The asking price is $1,040,000, representing a price per pad of $65,000. The current Net Operating Income (NOI) is $73,058, yielding a 7.02% cap rate, with a pro-forma NOI of $96,847 and a pro-forma cap rate of 9.31%. Significant capital improvements totaling $33,189 have been made in the past 48 months, including complete remodeling of some units and extensive gravel work in 2023 to improve drainage. The property benefits from a convenient location, approximately one mile from Interstate 24, providing easy access to Chattanooga and Nashville. Amenities include individually metered water, and each unit is equipped with a range and refrigerator. Tenants are responsible for trash removal, and each mobile home has its own septic tank. The majority of homes are late 1980s-1990s models, and the large lot sizes offer potential for future development. This property offers a strong potential for increased profitability through further value-add strategies. All cash purchase is required.

Location Insight

City

Manchester

County

Coffee

State

Tennessee

Latitude

35.4474

Longitude

-86.0423

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].