Contact Information

Mobile Home Park Details

  • Price: $500,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1189564
  • Posted On: Feb 10, 2020
  • Updated On: Mar 3, 2020

Property Description

24 lot Mobile Home Park With
16 Park own mobile homes
3 Lot rental
5- vacant pads all utilities ready electric, water, septic
Park has been upgraded in the past year
All mobile homes have been remodel
15 Park own mobile homes are rented
Has 12x24 maintenance barn

Location

Victory Ct is located at the foot of the Blue Ridge Mountains, just 45 minutes from Chimney Rock State Park, and 40 minutes from South Mountain State Park. Asheville, North Carolina, one the nations busiest places for tourism is just one hour away from the property. The Tryon International Equestrian Center, which hosted the 2018 FEI World Equestrian Games, is located just 11 miles from the subject property. This event hosted an estimated 400,000 spectators from around the world. This park is also open 364 days a year and will continue to boost the economy in Forest City. Forest City is located in Rutherford County which projects 23% job growth in the next ten years. The three main economic drivers in Rutherford County are Manufacturing (20%), Health Care (15%), and Retail Trade (13.8%). Forest City’s stable economy, location near some of North Carolina's most-visited State Parks, and an investors immediate opportunity to raise rents, makes this a desirable property for investors to consider.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 24
Total Occupancy: 90.0 %
Year Built: 1970
Average MH Lot Rent: $250
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $75,000
Operating Expense $12,000
Net Operating Income $66,000
Expense Ratio 16.0 %
Debt Info Inquire

Lot Information

Singlewide Lots: 24
Doublewide Lots: 0
Triplewide Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 16
Average Rent for Park-owned Homes: $500

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