Value-add, 31-unit mobile home park located in Heber Springs, AR.
The Esterson MHC Team is pleased to present Pine Meadows Community, a value-add investment opportunity consisting of 31 total units with significant upside. Pine Meadows Community is located 13 minutes from the nearest Walmart.
Heber Springs, AR is an attractive location for permanent residents and tourists. The local public school system is in the top 10% of the state according to publicschoolreview.com, and greatschools.org ranks the elementary and middle schools at 8/10 and the high school at 7/10. Tourism is centered around Greers Ferry Lake, one of the most popular lakes in the state, and the Little Red River, which is an internationally known angling destination. With median home prices of $163k and only 1.3% vacancy in apartments and houses, there is a clear need for affordable housing.
The community has 31 total units with 28 MH lots and 3 RV lots. Currently, there are 22 tenant owned mobile homes (TOH), 1 tenant owned RV, 2 vacant RV lots, and 6 vacant MH lots. The lot rental rate is $245 per month for MH and RV.
Pine Meadows Community is a year-round, all-ages community that is serviced by public water, septic, and public electricity. Water and electric are billed directly to tenants. Trash is serviced by curbside bins and also billed directly to tenants. The park pays for septic maintenance. The roads are gravel and in average condition.
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