Contact Information

Mobile Home Park Details

  • Price: $750,000
  • Purchase Method: New Loan
  • Property ID: 1140752
  • Posted On: Oct 2, 2019
  • Updated On: Oct 2, 2019

Property 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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Park Information

Community Type: All Age
Number of MH Lots: 38
Total Occupancy: 76.0 %
Year Built: 1970
Average MH Lot Rent: $509
Size: 10.0 acre(s)

Lot Information

Singlewide Lots: 38

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 26
Average Rent for Park-owned Homes: $509

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