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Capstone Manufactured Housing is pleased to present Ashwood Village Mobile Home Park, which is located in Hopkinsville, KY. Built in 1974 and renovated in 2008, this offering presents a rare opportunity to acquire a 145-pad stabilized mobile home park with value-add upside. The property includes 142 rental homes with the following breakdown: 103 single-wides (built in 2008 or newer), 29 (fully renovated), and 10 (requiring improvements). Additionally, there are 3 lot rent only pads and 44 storage units. With strong rental demand in Hopkinsville, KY, and very limited competing product homes in this asset class or apartments, the subject property is perfectly situated for the rental demand and is currently 89.7% occupied; thus, suggesting additional income upside. This opportunity provides an investor a strong cash flow along with rental upside in a market that will continue to have strong demand for years to come.

Ashwood Village Mobile Home Park and Storage is located in central Christian County: 1.5 miles northeast of the Hopkinsville Central Business District (CBD). The subject property is 12 miles away from Interstate-24 and 15 miles away from The Fort Campbell Military Base. The Hopkinsville State Route 1682 intersects with Greenville Road, approximately 1 mile north of the property site, and provides convenient ingress and egress for the neighborhood; thus, providing ready access to major employment centers.

Investment Summary:

Address: 4 Locust Street
City/State: Hopkinsville, KY
County: Christian
Acreage: 23+/-
Classification: 4-Star
Community Type: All-Ages
Type of Ownership: Fee Simple
APN: 257-0001105.0M
Flood Zone: No
Zoning: Not zoned, outside city limits
Website: www.ashwoodvillage.com

Investment Highlights:

  • Recent Capital Improvements
  • Immediate Upside
  • Limited Comparable Competition
  • Competitive Subset

 

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