Listing Agency: CENTURY 21 NEW MILLENNIUM s***@realmarkets.com Show Phone

Listed By: Stephen Karbelk · License #0225026849

Source: Crexi

Added: Apr 12 Changed: Aug 8 Last Checked: Jul 21 at 2:03PM

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Investment Insights

Based on property information with market context.

This offering is a portfolio of thirteen income-producing single-wide mobile homes located within an established mobile home community. Each home is a two- or three-bedroom layout with an existing rental history. The homes are sold as-is, where-is, subject to all existing tenant leases and the master lot rent lease, with payment in full required at closing and no seller financing offered.

The homes are located in Cascade, Virginia along Rt. 58 between Danville and Martinsville. The community is described as being approximately 15 minutes from downtown Danville and the location of Caesars Palace (opening noted for 2023), with nearby shopping centers and manufacturing jobs referenced as contributing to rental demand.

The portfolio is presented as generating an average monthly rent of $451 per home. The seller provided performance figures including an 11.12% CAP Rate Year 1 and an 18.60% Property IRR/Yield. Note that no real estate of the mobile home park is included, and the seller states they do not own the park; only the thirteen mobile homes are being offered.

Key Highlights

• Portfolio of 13 income‑producing single‑wide mobile homes in Cascade, Virginia
• Each home is 2 or 3 bedrooms and is sold as‑is, where‑is condition
• Average monthly rent is $451 per home; homes are subject to existing tenant leases and the master lot rent lease

Property Analytics

Property Profile

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Pet Grooming Service Tanning Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Explore this area Business Placement

Demographics for 24069, VA

1,805

Population

865

Households

2.1

Avg Household Size

46

Median Age

21%

College-Educated

89%

High-School Grad

31.1 sq mi

ZIP Area

58

Density / Sq Mi

$51,761

Median Household Income

$39,297

Median Earnings

$1,071

Median Rent

$148,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Portfolio includes thirteen single-wide mobile homes, each with two or three bedrooms, sold as-is subject to existing leases.

Where is this mobile home & rv park located?

The property is located at 13280 Martinsville Hwy Cascade, VA.

What are key features of this property?

This property features: Portfolio of 13 income‑producing single‑wide mobile homes in Cascade, Virginia; Each home is 2 or 3 bedrooms and is sold as‑is, where‑is condition; Average monthly rent is $451 per home; homes are subject to existing tenant leases and the master lot rent lease