Mobile Home Park Details
- Cap Rate: 7.8%
- Listing ID: 2021579
- Posted On: Jan 23, 2023
- Updated On: May 18, 2023
Description
Community consists of four brick, ranch-style homes and 21 mobile home spaces on approximately 8 acres. Nine tenant-owned homes, 10 park-owned homes that have been extensively renovated and well maintained and include one doublewide home and one brand new singlewide, and two vacant spaces. Community is served by shared septic systems and two wells, with a new County water line extending to the Property in 2024. There is a small transferrable mortgage in place with favorable terms.
Location
Located Southwest of Downtown Gastonia and near the Chapel Grove Elementary School.
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 92.0 % |
| Average MH Lot Rent: | $335 |
| Size: | 8 acre(s) |
Financial Information (Actual)
| Gross Income: | $225,288 |
| Operating Expense: | $72,759 |
| Net Operating Income: | $152,529 |
| Expense Ratio: | 32.3 % |
Lot Information
| Singlewide Lots: | 18 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $1,100 |
