3722 Dungannon RD Coeburn, VA 24230
20 Beds
20 Baths
9.12 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Subdivision Not In Subdivision
MLS Listing ID 10002119
Style Other
Bedrooms 20
Full Baths 20
HOA Y/N No
Lot Size 9.120 Acres
Acres 9.12
Lot Dimensions 9.118
Property Sub-Type Single Family Residence
Source Tennessee/Virginia Regional MLS
Property Description
Located at 3722 Dungannon Road, just off Highway 72 and conveniently close to schools and town, the property features 14 existing mobile home lots, three park-owned homes, and a 1,200-square-foot metal storage building.
Seven residents own their homes and currently pay monthly lot rents ranging from $100 to $125. These rents have remained unchanged for many years, offering potential for increased income. The three park-owned homes include a 1975 Festival, a 1975 Oakwood, and a 1995 Masterpiece. Two are currently occupied, with the tenant on Lot 8 paying $650 per month and expected to vacate before November 1. The home on Lot 10 is vacant and ready to rent, with a seller-projected monthly rent of $600. The owners plan to leave both available homes ready for the buyer to rent rather than fill the vacancies before the sale.
Four additional lots are currently vacant, creating an opportunity to bring in homes and expand rental income. The sellers estimate that adding rental homes to these sites could generate $600 or more per home each month. There may also be potential for a 15th lot, which the sellers believe could qualify as grandfathered, as well as possible future expansion. According to the sellers, the property historically accommodated more than 25 homes, although it has primarily operated as a 14-lot park for over 25 years. Any additional sites or expansion are subject to buyer verification and applicable approvals.
The property has access to Town of Coeburn water and is served by several septic tanks, with no public sewer connection. Additional septic information is available to interested buyers.
Offered for sale due to the owners' limited time to manage the property, this one-of-a-kind investment opportunity invites its next owner to build upon an established rental community while exploring the untapped potential of its beautiful wooded acreage. An inviting setting, established income, and room to grow -- all wrapped into one remarkable investment opportunity! Rental projections are estimates and are not guaranteed.
Location
State VA
County Wise
Community Not In Subdivision
Area 9.12
Zoning R
Direction Take Exit 2 into Coeburn on US 72 S. Travel approx 4 miles. Turn left onto Lonesome RD. Enter Property
Rooms
Other Rooms Shed(s), Storage
Interior
Heating Other
Cooling Other
Heat Source Other
Exterior
Roof Type Metal,Shingle
Topography Cleared, Level, Sloped
Building
Sewer Private Sewer
Water Public
Architectural Style Other
Structure Type Metal Siding,Vinyl Siding
New Construction No
Schools
Elementary Schools Coeburn
Middle Schools East Middle
High Schools East Side
Others
Senior Community No
Tax ID 006022
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional