434 N Pine Street

Description

This 5-unit trailer park presents a strong value-add investment opportunity with significant upside potential. Currently, four units are occupied and generating $3,100 per month in gross income ($37,200 annually), while one unit is vacant and ready for renovation and lease-up. Market rents for similar units are approximately $850 per month, bringing the stabilized gross income potential to $4,250 per month, or $51,000 annually. Each unit has a separate electric meter, with tenants responsible for their own electricity. Water is on a single master meter and paid by the landlord, averaging approximately $180 per month. Additional operating expenses run about $350 per month. This property offers a clear path to increased cash flow through renovating the vacant units and adjusting rents to market levels. Drive-by viewings are welcome; however, please do not disturb current tenants. The seller will also provide vendor and service contacts to ensure a smooth transition for the new owner. SQFT total is total combined estimate of all 5 units. Exact age of the homes are unknown but site pads were built in 1996 according to records. Buyer/agent to verify any information they deem important. Property does require flood insurance.