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Colonial Circle MHP 214 Woodlawn Ave E 20 Unit Mobile Home Park $597,299 CAD ($29,865 CAD/Unit) 5.02% Cap Rate Jamestown, TN 38556
Investment Highlights
- 15 tenant-owned homes currently in place, providing stable income with limited maintenance responsibility
- In-place lot rent of $160 per pad increasing to $250 effective May 1, driving immediate NOI growth
- Simple, scalable operating model well suited for a first-time or expanding manufactured housing investor
- 5 vacant pads offer clear infill upside with the ability to bring in single-wide mobile homes
- Individually metered utilities across all lots with city water and sewer, minimizing owner expense exposure
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/204666/colonial-circle-mhp
Marcus & Millichap has been selected to exclusively market for sale the Colonial Circle Mobile Home Park, a rare value-add investment opportunity located in Jamestown, Tennessee.
The Colonial Circle MHP is a 20-lot manufactured housing community in Jamestown, Tennessee offering immediate income growth and infill upside. The property includes 15 tenant-owned homes and 5 vacant pads suitable for single-wide placement, along with a scheduled rent increase from $160 to $250 per lot coming at the beginning of June. Individually metered utilities with city water and sewer support a low-expense operating profile, positioning the asset to benefit from strong and growing demand for affordable housing in Fentress County.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Colonial Circle MHP.
Marcus & Millichap has been selected to exclusively market for sale the Colonial Circle Mobile Home Park, a rare value-add investment opportunity located in Jamestown, Tennessee.
The Colonial Circle MHP is a 20-lot manufactured housing community in Jamestown, Tennessee offering immediate income growth and infill upside. The property includes 15 tenant-owned homes and 5 vacant pads suitable for single-wide placement, along with a scheduled rent increase from $160 to $250 per lot coming at the beginning of June. Individually metered utilities with city water and sewer support a low-expense operating profile, positioning the asset to benefit from strong and growing demand for affordable housing in Fentress County.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the Colonial Circle MHP.
Property Facts
| Price | $597,299 CAD | Apartment Style | Garden |
| Price Per Unit | $29,865 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.86 AC |
| Cap Rate | 5.02% | Building Size | 960 SF |
| No. Units | 20 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $597,299 CAD |
| Price Per Unit | $29,865 CAD |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.86 AC |
| Building Size | 960 SF |
| No. Stories | 1 |
| Year Built | 2020 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $114,732 CAD | |
| Land Assessment | $41,139 CAD | Total Assessment | $155,871 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$41,139 CAD
Improvements Assessment
$114,732 CAD
Total Assessment
$155,871 CAD
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Colonial Circle MHP | 214 Woodlawn Ave E
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