typical rental D/W
typical rental D/W
site plan
site plan
rental S/W
rental S/W
typical D/W
typical D/W
entrance
entrance
Photo of Mobile Home Park
Photo of Mobile Home Park
Typical View
Typical View
View of Gloria Acres MHP
View of Gloria Acres MHP
Park Home View
Park Home View
typical rental D/W
site plan
rental S/W
typical D/W
entrance
Photo of Mobile Home Park
Typical View
View of Gloria Acres MHP
Park Home View

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 10.6%
  • Listing ID: 69169
  • Posted On: May 5, 2011
  • Updated On: Jul 22, 2012

Description

Charlotte, NC market. 54 Mobile Home spaces located on about 20 acres. See Charlotte skyline from entrance of property. 8 Park owned homes of which 6 D/W's and 2 S/W. 4 Lots ready for homes. Two Private wells and individual septics. Paved roads, wooded setting. Charlotte MSA, largest in both Carolinas. Lake Norman and Mountain Island market. Best located park I've had in years. Highly desirable rental property with waiting list. Pristine, turn key property, ready for new owner. If you are looking for a very well located property with significant upside, you owe it yourself to see this property. Again it is a turn key operation with tremendous upside potential. Affordable rental housing is becoming short supplied now and will be for many years to come. Mobile home parks offer the most affordable housing alternative in America. Lots of upside here! Don't miss this once in a life time opportunity. Owner retiring!!!!!

Just off Highway 16 heavy retail corridor and 15 minutes from downtown Charlotte by Brookshire Freeway. Also new Hwy 16 bypass linking 1/2 mile away to I 485. Pull out of the park, go to traffic light and never see another traffic light until the Atlantic Ocean or the Pacific Ocean. This property has the best location, location, location. Please look at the airel photo available and see the road system linking Gloria Acres to Charlotte's Interstate and Freeway system. Just the best I have ever listed to the market.

Location

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Park Information

Community Type: All Age
Number of MH Lots: 54
Total Occupancy: 93.0 %
Year Built: 1989
Average MH Lot Rent: $220
Size: 20 acre(s)

Financial Information (Actual)

Gross Income: $161
Operating Expense: $25
Net Operating Income: $136
Expense Ratio: 15.5 %

Lot Information

Singlewide Lots: 40
Doublewide Lots: 14

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $550

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