Mobile Home Park Details

  • Property ID: 1003259
  • Posted On: Oct 30, 2018
  • Updated On: Aug 4, 2019

Property Description

The Glen at Hickory is a quaint mobile home park near Hickory and Morganton, North Carolina. The park sits on approximately 3.37 acres and has 17 existing pads. There are currently four lots rented to owner occupants, four rented park owned homes, one fixable park owned home and between four and eight rent-able lots. Tenants are long term and rents for mobile homes are $450 to $550 per month. There is potential for those rents to be raised. Pad rents are currently $165 per month, but are being raised to $180. Each tenant pays his or her own utilities except for water. The owner has little expense beyond insurance, taxes, and repairs/maintenance. A curved road currently serves the residential homes. This park has lots of potential and presents opportunity to add significant value to its overall value and to its cash flow by raising occupancy and rents and by adding more mobile homes to the park.

Hickory is located in the NC foothills and is the 162nd largest urban area in the US. The city is steadily growing and per the last census the Hickory Metropolitan is the 4th largest in NC with 342,000 residents. Along with a growing population, several new businesses are coming to the area. These include a Google processing center and a Target distribution center. Hickory is also home to many manufacturers of lumber, furniture, fiber optic cable, etc. Forty percent of fiber optic cables in the WORLD are manufactured in the Hickory area. Also, each year only ten cities in the US are designated as an "All American City". Hickory has won this designation on three occasions. Hickory also boasts a minor league baseball stadium, Hickory Crawdads, and Lenoir-Rhyne College.

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Park Information

Number of MH Lots: 17
Total Occupancy: 47.0 %
Year Built: 1970
Size: 3.4 acre(s)

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $450

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