Contact Information

Daniel Dellarova

Mobile Home Park Details

  • Price: $450,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.5%
  • Property ID: 1096635
  • Posted On: Jun 20, 2019
  • Updated On: Jul 23, 2019

Property Description

PRICE REDUCTION!! This is a well-maintained house & 15-unit MHP (14 active rental pads & refurbished 2 BR, one-story home) with many long-term tenants, all of whom own their mobile home (NO PARK-OWNED HOMES!). Finally, all tenants have signed a one-year, automatically renewable lot lease with Park Rules & Regs. as an addendum to the lease.

Piedmont Pines MHP sits at intersection of Hwy 39 and Garrett Rd. in Henderson, Vance county, NC on a flat piece of former farmland which totals just over 11 acres (2 parcels). Each site is about 1/2 acre and has its own (individual) septic system and electric meter base. Water is provided by 2 wells, though public water is available at the street..

Southern Vance HS is just a few hundred yards away, as is Clarke Elementary School. Maintenance is easy here! Keep the water flowing in, sewage flowing out, maintain the gravel driveway and collect the rent! If you've been looking, you'll recognize this park as one of the nicest "mom & pop" sized parks in the county, if not all of NC in terms of being neat, clean, with large lots and well-maintained homes.

This is also the perfect sized park to get into the MHP park business for well under under a half-a-million bucks! We are seeking a larger park, otherwise there would be no reason to sell this one! I'll be uploading rent roll and other information, but feel free to call or email for further information.

Note: House is currently rented for $650/mo. and scheduled to increase to $675 Sept. 1 (still below market) and standard lot rent is $210/mo. A few tenants pay $225 for extras. There are two undeveloped lots and one lot which is developed (electric, water, septic system), but is intentionally not being used (ask why). While all lots have single-wide homes, most lots would easily accommodate double-wide mobiles.

***DO NOT ENTER THE PARK WITHOUT AN APPOINTMENT OR BOTHER MY TENANTS! I have not disclosed a possible sale to them and need to be the one who shares that news!***

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

Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 100.0 %
Year Built: 1991
Average MH Lot Rent: $210
Size: 11.0 acre(s)

Financial Information (Actual)

Gross Income $43,740
Operating Expense $5,720
Net Operating Income $38,020
Expense Ratio 13.1 %
Debt Info Bank

Lot Information

Singlewide Lots: 15
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $0

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