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$ 4,950,000
Est. payment | /mo
$ 4,950,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Listing Status pending
Purchase Type For Sale
MLS Listing ID 11558357
Annual Tax Amount $23,617
Property Description
Whisper Ridge Mobile Home Park, Madison County, MS, offers a fully operational, well-maintained, 84-site park structured for long-term income and growth. The park includes 51 company-owned homes, all built within the past four years, primarily three and four-bedroom models with two full baths, and 47 of those homes feature Galvalume metal roofs. The overall consistency in home quality and appearance supports strong tenant appeal. The park includes 10 fully improved home sites with driveways and sidewalks ready for immediate occupancy, plus an additional 23 lots with installed sewer, water, and electricity. All 23 of these vacant sites also have a road base in place, prepped for asphalt completion. This infrastructure positions Whisper Ridge for rapid expansion as demand continues. From a management perspective, the park has maintained 100 percent occupancy for the past four years, backed by a waiting list that exceeds the number of available vacant sites. A dedicated full-time leasing manager has overseen tenant relations and covenant enforcement throughout that period and is willing to remain post-sale, ensuring continuity in operations. The covenants are actively enforced, maintaining the park's standards and protecting both residents and property value. Whisper Ridge is HUD-approved for affordable housing programs and currently houses three to four HUD tenants, offering an additional revenue stream and diversification of tenancy types. Strategically located, this park represents the last mobile home park zoned in Madison County. The county has an estimated housing shortfall of approximately 4,600 homes. Major employers and industrial ventures-such as Amazon, Nissan, and Clark Beverage Corporation-have recently invested in large industrial parks nearby, catalyzing job growth and demand for affordable housing options. Key physical attributes include well-maintained common areas by Whisper Ridge developers, tenant responsibility for utilities, and recent infrastructure improvements. The presence of 33 vacant, improved lots with full utility access offers an opportunity for easy build-out. Whisper Ridge provides a steady, high-occupancy revenue stream with growth potential from the remaining lots and a strong location that is tied to regional job and population growth. With management in place and room for expansion, the property provides a solid platform for continued success and growth.
Location
State MS
County 28089
Rooms
Dining Room 0
Kitchen 0
Building
Sewer Municipal
Water Municipal
Nearby Locations
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Wally Kerr
Broker | License ID: 83230