803 Riverside Drive, Columbia, TN

803 Riverside Drive, Columbia, TN

$440,000

Price

1.23 acres

Lot Area

11

Units

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Street
Map
Overview
Lot Area
1.23 acres
Units
11
Year Built
1994
Zoning
CD-3
Roof
Tin and Composition Shingle
Description

Highly visable 1.23 ac site in Riverside area of Columbia including a Single Family Home and Mobile Home park. Current Zoning is CD3.  All surrounding properties are CD3 except for 1 property, which is CD4. Mobile home units are on permanent foundations with skirting. 


Riverside area of Columbia is growing in popularity among residents in Columbia as shown by increased property prices. 


$104,000 Gross Income - 5% for vacancy and credit loss = $99,320

$52,846 Expenses includes 5% for Property Management and 5% Reserves

NOI $46,474  Cap Rate 10.56%

Property includes:

7  (1) Bedroom Mobile Homes 

1 (1) Bedroom Mobile Home that is partially livable 

1 (2) Bedroom Mobile Home

1,718 sq ft Single Family Home 

1 additional Mobile Home is used as a storage building

1 unlivable mobile home unit

Each unit that is occupied pays $200/weekly.

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Location
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