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Pine Terrace
115 Arrowood Road, Wadesboro, NC28170
Expired
Aerial of Pine Terrace
Pine Terrace - Homes
Pine Terrace - Homes 2
Pine Terrace - Homes 3
Pine Terrace - Homes 4
Mobile Home Park Details
Purchase Method:
New Loan
Listing ID:
1140752
Posted On:
Oct 2, 2019
Updated On:
Oct 7, 2020
Description
Pine Terrace is a 38 pad manufactured housing community located in
Wadesboro, North Carolina operating on public water and sewer. Of these 38
pads, 26 are currently occupied by park owned homes, with an additional 2
homes currently being used as an office and park storage (non-revenue units).
Ownership is also currently responsible for paying water off of a single meter
which represents an opportunity for new owners to sub-meter in year 1,
eliminating an annual $10,000+ expenses.
- 38 pads occupied by 26 park owned homes (26 POHs, 1
office trailer, 1 storage trailer, and 10 empty pads).
- Public water/Sewer.
- Single metered water paid by current ownership.
- Gravel Roads.
- 10 empty pads representing opportunity for new ownership to
boost revenue by roughly 25%.
Location
Located right off Highway 74, which connects Charlotte to the North
Carolina cost, Pine Terrace is situated in an opportunity zone poised for
significant growth in the coming year. The parks is also just 1 mile from the
nearest Walmart.
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