Contact Information

Mobile Home Park Details

  • Price: $1,200,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 10.0%
  • Listing ID: 6719222
  • Posted On: Sep 6, 2024
  • Updated On: Sep 28, 2024

Description

100 Percent Tenant occupied. 11 Units: 9 Manufactured Homes - 8 Single Wide's 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

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