Investment Property for Sale in Rocky Mount Va.
You have the opportunity to purchase a lucrative mobile home park for sale in Franklin County VA. This property features 2.08 acres and 14 mobile home lots located at 1801 Scuffling Hill Road, Rocky Mount VA. Of the 14 lots, three mobile homes are owned and included in the auction, 11 lots have mobile homes that are owned by tenants paying lot rent only. This is a fantastic cashflow and investment opportunity.
Let's talk about income - 11 lots lot rent only are rented for $250 per lot. Two of the mobile homes are two-bedroom, one bath homes. One rents for $550 per month and the other for $450 per month. The third mobile home has two bedrooms and two baths. Home rents for $550 per month. Total Rent is $4,300 per month. All three mobile homes have been remodeled in past three years and have new heat pumps.
Each lot has its own septic system approved for two bedrooms. Septic tanks have had risers installed with access lids / cleanouts for easy access. Each lot has town water with individual meters owned by park. Tenants are responsible for electric and park owner pays water bills. In 2008, new pavement was completed on main driveway around park. All electric meter bases and poles have been replaced. Lots 1-6 had new water lines installed in 2019. Annual expenses are $13,850. There have been zero vacancies since 2006. Refer to bidder pack for more information on rentals and expenses.
This property would be a great investment with proven income potential. It is conveniently located to Roanoke VA and Martinsville Va.
1801 Scuffling Hill Road, Rocky Mount VA 24151
Online Only Auction Ending Wednesday December 2nd 4 Pm
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Bid Online Now
Auction Date - Online Only Ending Wednesday December 2nd 4 Pm
Online Bidding - Online bidding is now active and runs through December 2nd 4 Pm
General Terms and Conditions - 10 Buyer's Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $10,000 required on day of sale December 2nd, 2020. Close on or before January 19th, 2021. Subject to seller confirmation. Download Bidder Information Pack for complete terms and conditions, purchase contract, and maps.
Contact - Broker Matt Gallimore at or Gallimore.matt Auctioneer Barry Muse at Directions - From Rocky Mount, Franklin Street HWY 40 West towards Ferrum, VA Left on Scuffling Hill Road across from 40 West Food Fare Go mile to right at 1801 Scuffling Hill Road, Rocky Mount VA.