2521 Suburban Rd Lynchburg, VA 24501

Lynchburg Estates, a 91-unit mobile home park situated on 13.01 acres in Lynchburg, VA (zip code 24501, address: 2521 Suburban Rd), presents a compelling value-add investment opportunity. Currently operating at 76% occupancy, the park generates a net operating income (NOI) of $289,294, with a current cap rate of 5.40%. Pro forma projections indicate a significant increase in NOI to $479,225 and a cap rate of 8.90%. The park features 68 tenant-owned homes and 22 vacant lots, with an average lot rental rate of $395 per month. Significant revenue growth potential exists due to limited affordable housing and strong market demand. A separately leased commercial building adds to the income stream via a long-term NNN lease. The park is well-maintained, boasting recently repaved roads and driveways, completed tree trimming, and general beautification projects. Well water and septic systems are fully maintained by the park, with tenants responsible for utilities. Curbside trash service is billed back to residents. On-site management oversees daily operations. The asking price is $5,400,000, encompassing all park-owned homes. This property offers a strong cash flow with substantial upside potential.