Lincolnton, NC

NOW REDUCED $615,000

Pinewood is a lovely, well maintained park situated on 7.95 acres. Large lots, paved streets and security lighting makes this a very desirable property. Located off of Bus. 321, Hwy 321 bypass connector only 15 minutes to Hickory, NC and only 5 minutes from downtown historic Lincolnton, NC. Hosting large chain restaurants, shopping malls, government buildings, a new hospital as well as an extension of Gaston Comm. College. There are 30 spaces of which 8 are park owned rentals. Lots lease for $195.00 per month and rental units rent for $110.00 - $115 per week (2-3) bedroom. Included water, septic and trash collection weekly. The park is serviced by its own community well. Excellent rental history. An on-site manager is available if needed.

Asking price is $615,000.00. Appraised at $688,000.00
Cap Rate 11.5% "Cash Sale"
2009 Gross $85K