Multifamily Property for Sale in Magnolia, KY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Magnolia, KY 42757
  • Year built: 1970

Description

Marcus & Millichap has been selected to exclusively market for sale the Spring Park Mobile Home Park in Magnolia, KY. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the heart of Kentucky. Spring Park MHP is a low-density, 5.51 acre mobile home community featuring eleven tenant-owned home lots, offering stable income with minimal management needs. The property provides ample open space and straightforward operations while serving long-term residents in a quiet Magnolia setting with convenient access to Hodgenville and Elizabethtown. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Spring Park MHP. Investment Highlights: • The property consists of 11 total lots, with 10 tenant-owned homes currently in place • Lots are individually metered for electricity and put in tenants' names • 5.51 acre mobile home community offering low-density layouts

Market Context

This multifamily in Magnolia, KY is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1970. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Magnolia, KY — <a href="/search/sale/multifamily/kentucky/magnolia">view the full market</a>.

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