2 Acres Lot
2 Acres Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID WVBE2047292
Year Built 1991
Annual Tax Amount $5,932
Tax Year 2025
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Foster's Mobile Home Park offers an exceptional investment opportunity on a spacious two-acre parcel, featuring a full overhaul of several rental units and impressive income streams. This unique property is not only renovated but is also positioned to exceed the investor 1% rule, with current income nearly reaching it and proforma projections surpassing the rule.
The centerpiece of the property is a charming modular ranch-style home, perfect for an owner, property manager or a standard rental like it is today. This inviting residence boasts a covered front porch, a one-car garage, three bedrooms, and 2.5 bathrooms, providing ample space and comfort. The sunroom, with an abundance of windows, offers a peaceful space to relax and enjoy the surroundings. A finished basement and traditional floor plan further enhance the home's appeal, making it a welcoming retreat.
In addition to the residence, the property features an 1,085-square-foot, three-bay garage with an office, ideal for storage, property management operations, a mechanic shop, hair studio, etc. Multiple outbuildings scattered across the property provide additional storage and utility space, adding further value and convenience.
Foster's Mobile Home Park currently includes eight mobile homes, all of which are fully rented, ensuring immediate cash flow. With the recent renovations, the park has been brought up to a higher standard, increasing both the quality of the living spaces and the overall income potential.
This property is situated in a peaceful yet accessible location, offering the perfect balance of residential charm and commercial opportunity. Whether you're looking to expand your real estate portfolio or seeking a stable investment with multiple income sources, Foster's Mobile Home Park presents an incredible opportunity. With a fully upgraded property and strong rental income, this investment not only meets but exceeds expectations.
Don't miss your chance to own this versatile property with high earning potential. Contact us today to schedule a private viewing and see the endless possibilities that await you at Foster's Mobile Home Park! CNDA is required for all financials and a 48 hour notice is required for showings.
Current Annually: $114,600
Proforma Annually: $160,800
Location
State WV
County Berkeley
Zoning 213
Interior
Hot Water Electric
Heating Heat Pump(s), Baseboard - Electric
Cooling Heat Pump(s)
Inclusions All mobiles are park owned.
Heat Source Oil, Electric
Exterior
Garage Spaces 17.0
Utilities Available Above Ground, Cable TV Available, Electric Available, Phone Available
Water Access N
View Mountain
Roof Type Shingle
Street Surface Black Top
Accessibility None
Road Frontage City/County
Total Parking Spaces 17
Garage N
Building
Lot Description Backs to Trees, Not In Development, Partly Wooded, Road Frontage, Trees/Wooded, Unrestricted
Foundation Permanent
Sewer On Site Septic
Water Well
New Construction N
Schools
Elementary Schools Gerrardstown
Middle Schools Mountain Ridge
High Schools Musselman
School District Berkeley County Schools
Others
Tax ID 03 26003500010000
Ownership Fee Simple
Acceptable Financing Bank Portfolio, Cash, Conventional, Private
Listing Terms Bank Portfolio, Cash, Conventional, Private
Financing Bank Portfolio,Cash,Conventional,Private
Special Listing Condition Standard
Nearby Locations
- 6
Mountain Ridge Intermediate School
Public | 3 - 5
- 0
Gerrardstown Elementary School
Public | KG - 2
- 5
Mountain Ridge Middle School
Public | 6 - 8
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