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B & M Properties Jolinda Road, Vass, NC 28394

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.7% (Pro Forma)
  • Listing ID: 1546221
  • Posted On: Nov 1, 2021
  • Updated On: May 3, 2022

Description

Easy access to Ft. Bragg or Pinehurst from this centrally located park.
33 Park Owned Homes including land and improvements located in two locations within 1/4 mile of each other. 155-219 Jolinda Road and 101-161 Wright Court being Sold as one property.

Location

Between Vass and Spring Lake, North Carolina. Rural setting just off NC Hwy 690 (Lobelia Road) in the Mt. Pleasant Community.

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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 90.0 %
Size: 15 acre(s)

Financial Information (Pro Forma)

Gross Income: $190,500
Operating Expense: $83,671
Net Operating Income: $106,829
Expense Ratio: 43.9 %

Lot Information

Singlewide Lots: 33

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 33
Average Rent for Park-owned Homes: $500

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