https://estersonmhcteam.com/property/sunny-knoll-acres

Contact Ryan Brands for more information ryan.brands@marcusmillichap.com

We are pleased to present Sunny Knoll Acres in Candler, North Carolina. Located in the Asheville metro and is host to a booming population and rich mountain lifestyle. Since 2020, Asheville has grown 9% in population and continues to rise. The population of the Asheville MSA is 466,634 and has a median home price of $354,700. This region is well known for its scenic hiking trails, recent high growth trends, craft beer scene, and artistic architecture.

Sunny Knoll Acres consists of 20 mobile home lots at full occupancy with 15 tenant owned homes, 3 RTOs, and 2 park owned homes with considerable upside in rents. The average lot rent at $312. The 2 park owned homes are mid-1980s vintage. The average home age in the park is mid 1980’s with a few homes in the 1990s and 1970s models, the newest home being a 2021 model. This stable opportunity is ideal for investors looking for a well-managed park that has no heavy lifting involved and has room for rent upside. The park is not in a flood zone.

Located in Buncombe County, the park is a 20-minute drive from downtown and is near interstate I-40. The overall market in the area can support considerably higher rents given the limited affordable housing and skyrocketing apartment rents in Asheville. With average apartment rents for the area averaging $1,500 and climbing, mobile home rents have been slower to respond leading to many parks in the MSA to be below market rents.

The current owners have maintained a family friendly community and have vetted every tenant with documentation available to new owner. The park has 2 wells and 9 septic tanks servicing the homes and both water and septic are included in rent. Trash is included in rent through a provided dumpster. Electricity is direct billed to tenants. Wells do not require testing but have been tested every time there was a repair. Septic tanks and drain fields have have been serviced and maintained regularly. The road is mostly paved with a small portion gravel, all driveways are paved.