Little Red Schoolhouse
Great opportunity for a premier 55+ community with 39 land leased homes. Homes on the property selling for the $130,000+ and has an excellent resident group. There is a great community center that is over 4,000 sq ft with a library and social center for the residents. There's also a 6 stall garage that could be rented out for storage. With a very nice stick built home that is rented out for a modest $750. The acreage on the property is 131 acres and has a ton of room for growth. Attached is a preliminary map for the expansion plans.
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Property Details
Property Type
Mobile Home Park
Property Role
General Partner
Property Status
Sold
Total Buildings
40
Number Of Units
39
Square Feet
0
Year Built
1996
Purchase Price
$1,000,000
Total Sale Price
$1,270,000
Gross Profit
$170,000
Purchase Date
Dec 30, 2019
Sale Date
September 21, 2021
IRR
27.6%