Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Property ID: 1283811
- Posted On: Jul 6, 2020
- Updated On: Jan 7, 2021
Property Description
Very stable 21- pad mobile home park for sale in Carthage, NC just 10 minutes North of Pinehurst, NC. Below market rents present big opportunity for upside. 15 lots are occupied as Resident Owned Homes. Three Park Owned homes in the park need renovation then can be rented out or sold. Utilities are already sub metered, tenant pays for everything. Paved road in great shape. Additional parcel included to build more lots and bring in even more income.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 71.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income | $45,000 |
| Operating Expense | $10,616 |
| Net Operating Income | $34,384 |
| Expense Ratio | 23.6 % |
| Debt Info |
Lot Information
| Singlewide Lots: | 21 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
