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"Baby Lowes" garage & lumberyard
"Baby Lowes" garage & lumberyard
Playground
Playground
Tadpole Ln
109 Tadpole Ln
108 Tadpole Ln
107 Tadpole Ln
106 Tadpole Ln
105 Tadpole Ln
104 Tadpole Ln
102 Tadpole Ln
100 Tadpole Ln
127 Running Root Ln
128 Running Root Ln
129 Running Root Ln
132 Running Root Ln
133 Running Root Ln
135 Running Root Ln
136 Running Root Ln
140 Running Root Ln
141 Running Root Ln
143 Running Root Ln
"Baby Lowes" garage & lumberyard
Playground

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.4%
  • Listing ID: 827017
  • Posted On: Jun 28, 2017
  • Updated On: Jun 16, 2020

Description

Well maintained eighteen unit double wide (park owned) mobile home park on over 17 acres inside the Maysville NC bypass off of Hwy 17.

11.4% CAP Rate with IMMEDIATE upside potential by raising rents on six long term tenants currently on month-to-month leases.

Homes have individually metered city water and each have private septic. Street lights and off street parking on two private dead end roads.

Contact me for detailed 5 year P&L statements. My books are squeaky clean and this is a well managed and maintained park that stays full.

Ten of the units may be sold off individually. Tax value of the property is $1,189,630 in a rapidly growing area with a stable economy due to its proximity to Camp Lejeune Marine Corp Base and the beach.

There is a possibility to purchase my adjacent 4.74 acres that includes two stick built homes on Hwy 17 Bus to lock in the entire inner corner of the buildable land on the bypass.

Visit www.kitparks.com/sale for more information. Be sure to see aerial drone video link next to photos tab above.

Location

Located ten miles north of Jacksonville, NC's best part of town, and two miles south of the village of Maysville. Just off of Hwy 17, and just inside the soon-to-be completed south corner of the Maysville bypass.

The property across the highway just got approval to be re-zoned HB, paving the way for this property to also be rezoned should the new owner ever desire to do so. This corridor of Hwy 17 is getting ready to explode with the recent completion of the four lane road and new bypass.

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

Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Year Built: 2002
Average MH Lot Rent: $800
Size: 18 acre(s)

Financial Information (Pro Forma)

Gross Income: $173,000
Operating Expense: $30,650
Net Operating Income: $142,350
Expense Ratio: 17.7 %
Debt Info: 0

Lot Information

Doublewide Lots: 18

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $800

Video