Contact Information

Larry Cavallaro

The Cavallaro Group, Inc.

Mobile Home Park Details

  • Price: $482,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.0%
  • Property ID: 1110537
  • Posted On: Jul 23, 2019
  • Updated On: Nov 1, 2019

Property Description

This park was developed into 14 1/2-1 acre lots per home in addition to the owner's home on another acre. Stanfield / Locust is located just east of Charlotte with easy access to the City's belt line. This area has a moratorium on any future mobile home parks, and is growing into a convenient suburban location to the City of Charlotte.

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Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 99.0 %
Year Built: 1993
Average MH Lot Rent: $250
Size: 12.0 acre(s)

Financial Information (Actual)

Gross Income $46
Operating Expense $12
Net Operating Income $34
Expense Ratio 26.1 %
Debt Info

Lot Information

Doublewide Lots: 15

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $250

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