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

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