Value-add Mobile Home Park | 714 Highway 113 | White Pine, TN 37890

Date: 09/29/2022

Time: 12:00PM (Noon)

Location: 714 Highway 113 | White Pine, TN 37890

Office: Knoxville

Agent: Kenny Phillips - #2385 | Phillip Hopper - #6709

Real Estate Auction
714 Highway 113 | White Pine, TN 37890

Value-add mobile home park in Jefferson County

BID LIVE OR ONLINE
Thursday, September 29th at 12:00PM (Noon)

Awesome buying opportunity for a +/- 14.6 acre mobile home park with value-add opportunity

 

Zoning: A-1

 

Property has 40 mobile home sites with only 9 currently rented


Current rental income is $3,260 per month (5 units owned by the park and 4 are renting just the lots)

 

Located approx. 24 miles from Knoxville and 13 miles from Morristown - minutes to Douglas Lake

 

IMPORTANT UTILITY CONNECTION INFORMATION - BUYER TO REVIEW:
Within 30 days of closing, Will Utility District requires the purchaser to install a temporary 2" water tap to provide water to all mobile homes. Witt Utility District must complete the installation. Within 6 months of closing, Witt Utility District requires the purchaser to pay to install pipe line & fire hydrants throughout the park - installation must be completed by Witt Utility District. In addition, tap and meters must be installed so that each property has its own tap/meter. A DETAILED EXPLANATION LETTER WITH ASSOCIATED COSTS IS ATTACHED IN THE "IMPORTANT INFORMATION" SECTION SEEN BELOW. 

 

The current mobile home park and layout is approved and the use is grandfathered with Jefferson County.

 

If a new park is ever constructed (current pads removed, number of pads increased, layout of park changed, etc.), it would have to be approved by the Jefferson County Planning Commission and meet current mobile home park standards.

 

Several old single wide mobile homes are located on the property that may or may not be of future use

 

Excellent opportunity for an investor to make this park their own and start generating a great cash flow

 

Portion of current Jefferson County Parcel/Tax ID:
049  057.00

Real Estate Terms:
Powell Auction will email winning bidder  your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing. By bidding you are entering into a binding agreement.

Jefferson Title will be conducting the closing.
Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur on or before October 31, 2022.

The contract will not be contingent upon financing, inspections or any other contingencies.

Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**

Thank you for participating in this Powell Auction & Realty LLC Online Auction. 
It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.

New Bidders, please Pre-Register, we will have to approve you to Bid!