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Southern Tennessee MHC Portfolio 2 Properties Offered at $4,721,255 CAD in Multiple Locations
Investment Highlights
- 53 units across 2 communities near Nashville, Chattanooga & Huntsville
- Offered at $3.5M with a 9.1% Year 1 Cap Rate
- Room to grow: lease-up, rent increases, and pad expansion
- 90%+ homes rehabbed with HVAC, septic, and road upgrades
- 49 park-owned homes, 4 tenant-owned; conversion opportunity
- Add amenities to boost tenant satisfaction and retention
Executive Summary
Colliers Manufactured Housing & RV Group, serving as the exclusive agent for the Owner, is pleased to offer the opportunity to acquire Southern Tennessee MHC Portfolio, a 53-unit, well-located affordable housing opportunity consisting of two properties in south-central Tennessee less than 2 hours from Nashville and Chattanooga and less than an hour from Huntsville, AL.
The portfolio consists of two all-age mobile home communities, Pulaski Grove and The Landing at Fayetteville, each offering a value-add investment opportunity with spacious lots, newly rehabbed homes and on-site management providing immediate upside. More info below.
The asking price for the portfolio is $3,500,000 ($66,038/site). This represents a 9.1% Year 1 Cap Rate.
The seller is not offering seller-financing. We will review all offers.
- Recent Renovations Completed by Seller:
Pulaski Grove: rehabbed 90%+ of existing homes, replaced central HVAC in units, and ran new septic lines.
Landing at Fayetteville: rehabbed 90%+ of existing homes, replaced central HVAC in units, paved roads, and replaced older homes.
- 53 Total Units including: 49 Park-Owned Homes (2 Vacant) & 4 Tenant-Owned Homes (1 Vacant)
- Operators can transition park-owned homes to tenant ownership. This would reduce operating expenses and CAPEX reserves while reducing the basis in the property and building a stronger tenant base.
- Curb appeal enhancements include home renovation, improved landscaping, and signage, which will elevate the community’s overall presentation and attract higher-quality tenants.
- At 94% occupancy there is an opportunity to lease the remaining vacant units.
- Opportunity to increase rates beyond current rent roll average to market rent.
- The portfolio offers the potential to develop additional home pads to expand unit count and create immediate revenue growth.
- Adding community amenities such as picnic areas or playgrounds can increase resident satisfaction and cement long-term occupancy stability.
The portfolio consists of two all-age mobile home communities, Pulaski Grove and The Landing at Fayetteville, each offering a value-add investment opportunity with spacious lots, newly rehabbed homes and on-site management providing immediate upside. More info below.
The asking price for the portfolio is $3,500,000 ($66,038/site). This represents a 9.1% Year 1 Cap Rate.
The seller is not offering seller-financing. We will review all offers.
- Recent Renovations Completed by Seller:
Pulaski Grove: rehabbed 90%+ of existing homes, replaced central HVAC in units, and ran new septic lines.
Landing at Fayetteville: rehabbed 90%+ of existing homes, replaced central HVAC in units, paved roads, and replaced older homes.
- 53 Total Units including: 49 Park-Owned Homes (2 Vacant) & 4 Tenant-Owned Homes (1 Vacant)
- Operators can transition park-owned homes to tenant ownership. This would reduce operating expenses and CAPEX reserves while reducing the basis in the property and building a stronger tenant base.
- Curb appeal enhancements include home renovation, improved landscaping, and signage, which will elevate the community’s overall presentation and attract higher-quality tenants.
- At 94% occupancy there is an opportunity to lease the remaining vacant units.
- Opportunity to increase rates beyond current rent roll average to market rent.
- The portfolio offers the potential to develop additional home pads to expand unit count and create immediate revenue growth.
- Adding community amenities such as picnic areas or playgrounds can increase resident satisfaction and cement long-term occupancy stability.
Data Room Click Here to Access
Property Facts
| Price | $4,721,255 CAD | Number of Properties | 2 |
| Price / SF | $262.39 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 9.10% | Total Building Size | 17,993 SF |
| Sale Type | Investment | Total Land Area | 8.39 AC |
| Status | Active |
| Price | $4,721,255 CAD |
| Price / SF | $262.39 CAD / SF |
| Cap Rate | 9.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 17,993 SF |
| Total Land Area | 8.39 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1 Simpson Rd, Fayetteville, TN 37334 | Specialty | 1,000 SF | 1980 | - |
| 1810 Vales Mill Rd, Pulaski, TN 38478 | Multifamily | 16,993 SF | 1942 | - |
Contacts
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Mike Nissley -
Richard Knapp -
Amy Barrett -
David Nissley -
Ashley Compton -
Colliers Manufactured Housing & RV Group
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