Contact Information

Mobile Home Park Details

  • Price: $700,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 7.5%
  • Listing ID: 6737928
  • Posted On: Sep 27, 2024
  • Updated On: Sep 27, 2024

Description

The McDaniel Team is pleased to present Green Mountain MHC.
Located in the beautiful Appalachian Mountains, Green Mountain
MHC provides an investor the opportunity to continue to increase
rental rates by 40% as well as expand the number of pads. Growth
within the market is being supported by its’ proximity to Hickory, a
diverse and growing economy just south of Lenoir.
Comprised of 26 pads that are all lot rent spaces, the asset also
includes one stick-built home and an on-site apartment. There is a
tremendous opportunity to develop the rest of this approved asset
and take advantage of a growing market. The park is serviced by
sub-metered city water and septic tanks. Development of this asset
will allow for Northwest views of the mountain premier lots within
the Hickory-Lenoir Markets.

Location

Located in Lenoir, close proximity to Blowing Rock and Hickory.
Property is approved for 65 pads.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 19
Total Occupancy: 100.0 %
Average MH Lot Rent: $319

Financial Information (Actual)

Gross Income: $65,100
Operating Expense: $12,347
Net Operating Income: $52,753
Expense Ratio: 19.0 %

Lot Information

Singlewide Lots: 17

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

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