Photo of Mobile Home Community
Photo of Mobile Home Community
Photo of Manufactured Home Community
Photo of Manufactured Home Community
Photo of Mobile Home Community
Photo of Manufactured Home Community

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
  • Cap Rate: 10.5%
  • Listing ID: 442071
  • Posted On: May 8, 2014
  • Updated On: Oct 3, 2014

Description

Garden Grove Mobile Home Community is a 75 lot mobile home park that currently has 24 lots occupied by lot rental homes. The remaining 51 lots are vacant. The majority of the vacant lots have electric poles, water and sewer lines. The community has a well and two large septic tanks that service all of the lots. The community is located directly across from the New Hope Army Airforce Base. There is significant upside to this community by filling the vacant lots as well as the potential to re-zone and add Recreational Vehicle's for increased revenue, as the community is very close to Fort Bragg and Pope Field military bases. Fort Bragg, which is the largest Army installation in the country, hosting over 45,000 military personnel.

Location

Spring Lake is a town in Cumberland County, North Carolina, United States. Spring Lake has a championship golf course designed by Davis Love III and it was rated 4.5 stars by Golf Digest, which puts it up against some of the finest courses in the country. Not to mention there are 17 other golf courses in Cumberland County.

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Park Information

Community Type: All Age
Number of MH Lots: 75
Total Occupancy: 32.0 %
Year Built: 1954
Average MH Lot Rent: $150
Size: 12 acre(s)

Lot Information

Singlewide Lots: 24

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic