Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 8.8%
  • Property ID: 1246201
  • Posted On: Apr 24, 2020
  • Updated On: Aug 11, 2020

Property Description

Capstone Manufactured Housing is pleased to present Cherry Valley Mobile Home Park. Ideally situated in the robust Asheville MSA, this park benefits from the market’s strong economic development and a perfect 100% occupancy. Additionally, the park has implemented a partial utility recapture program, creating a reliable and supplemental stream of revenue going forward. The property also features strong rental upside, with rents currently 5% below the market average.

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Asheville MSA

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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 100.0 %
Average MH Lot Rent: $315
Size: 12 acre(s)

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $625

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