15 Spruce Pine Ln

Auction Property: List price may not reflect final sales price. List price is starting bid on the property and is non-reflective of value. Auction Ends April 21st at 4PM. Searching for your next real estate investment opportunity? Check out this mobile home park for sale in Bassett, VA. This property features +/- 8.58 acres and is serviced by public water and a private septic system. Property is minutes away from Philpott Dam making it great for boating, fishing, and hiking. There are currently 9 tenants, all operating under month-to-month verbal rental agreements. This arrangement provides flexibility for a new owner, who may determine which tenants remain and which may be asked to vacate. Rental rates may also be adjusted at the buyer's discretion. Currently, 9 renters occupy a total of 10 out of the 26 available lots. One tenant rents 2 lots to allow for additional space. All tenants are current on their rent. Each tenant pays $250 per month per lot, except for the tenant leasing 2 lots, who pays a total of $400 per month. Total monthly income is $2,400 per month. Owner recently spent over $40,000 to have the park cleaned up and abandoned mobile homes removed. All mobile homes located on the property are owned by the tenants, not the park owner. Therefore, mobile home titles will not be transferred to purchaser. Additionally, purchaser acknowledges that there may be limitations or regulations that prohibit the relocation / removal of mobile homes from property. Bidder acknowledges that information on manufactured homes is limited to physical exterior inspection and that the seller does not possess titles to the mobile homes. Inspection of mobile homes is only relevant to ascertain overall appeal of mobile home park. Auction is subject to VA Statute 55.1-1308.2. Seller must notify all tenants in writing of the intent to sell at least 60 days prior to selling. Tenants will have those 60 days to purchase property at an agreeable price to seller.