Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.9%
- Listing ID: 1517222
- Posted On: Sep 17, 2021
- Updated On: Jan 27, 2022
Description
Combined properties are three communities located in close proximity in the Charlotte, NC market. There are 35 lots total with 33 Park-Owned Homes along with a Duplex and a 20-space Storage Building. POHs have been extensively renovated, most of which have been upgraded with new drywall and flooring, kitchen cabinets and countertops, new bathrooms, decks and underpinning. Please do not visit the properties without prior scheduling to minimize disturbance of tenants.
Location
Communities are just 15 miles from Downtown Charlotte and 9 miles from the Airport in the growing Eastern Gaston County Submarket. Convenient to grocery and shopping, Interstates, and less than 10 miles from the Amazon Fulfillment Center and other large employers. Communities are well-positioned for long term stability and growing rents.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 34 |
| Total Occupancy: | 85.0 % |
| Average MH Lot Rent: | $325 |
| Size: | 8 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $242,709 |
| Operating Expense: | $68,867 |
| Net Operating Income: | $173,842 |
| Expense Ratio: | 28.4 % |
Lot Information
| Singlewide Lots: | 34 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 33 |
| Average Rent for Park-owned Homes: | $325 |
