Mobile Home Park Details
- Listing ID: 12989
- Posted On: Jun 2, 2010
- Updated On: Feb 20, 2012
Description
Clark MHP is situated on 10 acres in the South Mtn. range of the Blue Ridge Mtns. Big Walker Top Mountain is the back drop for this park built in the 80's, there are 27 rental lots and 2 rental houses, a private gravel road runs along the side of the length of the site. This is an Estate Sale. Rental houses are in need of repair. There are 13 lots rented, and 14 lots made available by the heirs removing older homes out. The property is serviced by 3 wells Community water is available in the road and private septic systems service the lots. this is a fixer upper! sales price reflects that. The heir is offering attractive "Owner Financing" to a buyer, with 20% down & 6% 15 years fully amortized. If you are looking for a "Little Piece of Heaven" in the North Carolina Mountains, This is it! Your hard work and efforts in refurbishing this property will pay off in a tremendous increase in value. The asking price would have been at least twice what it is now, if it was in 2007.....Buy this property, fix it up, and you will have 2x the price you paid in value as the market returns to normal. A keen investor will snap this one up quickly.....they don't come along like this very often
Clark Mobile Home Park is located just 2 miles off Hwy 64 East running out of Morganton, NC. Walmart, Lowes Home Improvement, Ingles Super Market, Restaurants, I-40 ( The Atlantic to the Pacific Interstate Highway) and so much more all are a little over 5 minutes away. Morganton is one of the most progressive towns in Western North Carolina. A beautifully restored Historic downtown is a must visit. The old Burke County Court House is a Landmark listed on the National Registry of Historic Places. Morganton was home to the famous Senator "Sam" Ervin of "Watergate" fame. His home place is still there. Burke County is rich in spectacular Mtn.scenery, Lakes, rivers, civic and cultural abounds, 45 min. to Asheville, a little over an hour to the Charlotte International Airport, History, culture and so much more. Burke County was voted by Reader's Digest Magazine as one of the 10 best places to live and raise a family in the US.
Park Information
Number of MH Lots: | 29 |
Total Occupancy: | 48.0 % |
Year Built: | 1979 |
Average MH Lot Rent: | $85 |
Size: | 10 acre(s) |
Financial Information
Gross Income: | $75,600 |
Operating Expense: | $18,000 |
Net Operating Income: | $57,600 |
Expense Ratio: | 23.8 % |