Contact Information
Craig Julian
Mobile Home Park Details
- Price: $1,350,000
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0%
- Listing ID: 6719222
- Posted On: Sep 6, 2024
- Updated On: Sep 9, 2024
Description
11 Units: 9 Manufactured Homes - 8 Single Wides and 1 Doublewide and a Duplex. 10 of the Units have been updated in the past two years. New Road around and through the park. Located on 4.5 Acres. All units are currently occupied. Two Water Wells and several septic tanks. Great trees! One new Well House. Large Container for Storage. We have spent over $300,000 in updates including new road, updated units and one new unit. Septic Tanks were pumped in 2023. Most units have central air/heat. Buyers Broker will be paid a commission. Craig Julian Real Estate Broker/Appraiser 704-681-2753
Location
Located off Hwy 321. Hickory NC.
Amenities
- Storage
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 11 |
| Total Occupancy: | 100.0 % |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $142,150 |
| Operating Expense: | $23,899 |
| Net Operating Income: | $118,241 |
| Expense Ratio: | 16.8 % |
| Debt Info: | Loan from Bank |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 11 |
| Average Rent for Park-owned Homes: | $1,076 |
