Rosepine Mobile Home Community — Sale in Rosepine, LA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Rosepine, LA 70659
  • Year built: 1973

Photos

Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 1 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 2 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 3 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 4 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 5 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 6 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 7 of 8
Rosepine Mobile Home Community — Sale in Rosepine, LA, photo 8 of 8

Investment Figures

Cap rate
9.44%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Rosepine Mobile Home Community, a 40-space property located in Rosepine, Louisiana. The community is offered at a 9.44% capitalization rate with an estimated day-one net operating income of $217,168. Rosepine MHC consists of 34 park-owned homes, one tenant-owned home, four vacant RV spaces, and a brick house currently occupied by the owners. The four RV spaces can be converted to two mobile home spaces at the new owner’s discretion. Park-owned homes rent for $850 to $1,300 per month depending on the home, while the tenant-owned home pays $500 in lot rent. Historically, up to seven homes were operated as short-term Airbnb rentals; all have since been converted to longer-term leases. Vacancies are rare, and thirteen of the homes have undergone major remodels. Seven homes are also conveyed fully furnished. Photos of all home interiors are available in the due diligence folder. Water and sewer are provided by the Town of Rosepine and are included in rent. The new owner has the ability to install individual water meters to have tenants directly billed for their water expense. Thirty-two homes are direct-billed for electricity, while three have electricity included in their rental rate; each space has its own electric meter, giving the new owner the ability to significantly reduce utility costs once all tenants are direct-billed. Trash collection is provided by the Parish at no charge to the owner, as are the street lights. The park is currently self-managed with outside assistance for maintenance and cleaning. Please do not visit the community without prior approval. All property tours must be scheduled through a Marcus & Millichap agent. Investment Highlights: • Public Water and Sewer • 34 Well-Maintained Park-Owned Homes • Four Vacant RV Spaces with Conversion Potential • Individual Water Meters Can Be Installed to Direct-Bill Tenants • 2009 Median Year Built for Park-Owned Homes

Market Context

This multifamily in Rosepine, LA is listed for sale. It is offered at an approximate 9.4% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1973. Compare it against other multifamily listings for sale in Rosepine, LA — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Louisiana