Mobile Home Park Details

  • Distressed: This property is in default, REO or in foreclosure.
  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Listing ID: 1734261
  • Posted On: Aug 12, 2022
  • Updated On: Dec 30, 2023

Description

This park is in an excellent location in the growing MSA of Hickory, NC. There were 48 homes in this park previously. The city planner gave a written letter that this park is able to have 48 homes again. The homes would need to be pretty small to fit in 48 again. Currently there are 18 homes in the park, of which 3 have residents living in them. The existing 3 residents are currently not paying rent, as the owner inherited the property and hasn't kept up the park since. The other 15 homes mostly need to be scrapped. The park is on well & septic. Some due diligence has already been done on the homes and infrastructure, details of which we are happy to share. We also have a quote for installing city water to and throughout the park. Lot rent can be $300-$325 for the area for tenant owned homes. The average 3 bedroom rent in this area is currently $950. We are under contract on this park and would be interested in assigning or partnering with someone who has experience with this sort of heavy infill. We own a few parks in the area, including a park just a few miles away. Serious inquiries only.

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Park Information

Number of MH Lots: 48
Average MH Lot Rent: $325
Size: 8 acre(s)

Financial Information

Gross Income: $0

Utility Information

Water: Well
Sewer: Septic

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