Contact Information

Mobile Home Park Details

  • Price: $899,000
  • Cap Rate: 7.6%
  • Property ID: 1348205
  • Posted On: Oct 29, 2020
  • Updated On: Dec 16, 2020

Property Description

CUMBERLAND, NC - The MHP Broker is pleased to offer the sale of Cumberland Manufactured Home Community, which is located in Cumberland County, North Carolina. The stabilized park is less than a 10-minute commute from downtown Fayetteville, and provides plenty of upside potential in a strong market. Current occupancy consists of 21 occupied park owned homes (POH) and 1 occupied single-family homes (SFH). Future owners can capitalize on the upside by filling vacancies for 2 SFHs, 2 POHs, and 2 vacant lots. The majority of the POHs, with the exception of the 2 vacant POHs, are in great condition and can be sold off if a more passive income is preferred. The 2 vacant POHs need rehab and to the best of owner’s knowledge no structural repairs are needed. The 2 vacant lots are permitted and offer electric, water, and septic, making it effortless for the new owner to lease the pads. Once rehab is completed on the commercial triplex, the new owners can depend on a variety of revenue sources, which can offset any future vacancies. The commercial unit sits on Cumberland road and offers high visibility.

Notably, this park sits on 6.85 acres, which contains 2 private roads, 1 county road, 13 septic systems, and 2 wells. Drain fields have been repaired for 4 of the 13 septic systems and one of the well houses was recently installed. Future owners can potentially tie into municipal water and sewer, which is a short distance from the park, but will need approval from the county. At this point in time the owner is paying for trash services for each unit, however, the future owner can pass this expense through if they prefer.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 25
Total Occupancy: 84.0 %
Average MH Lot Rent: $210
Size: 7 acre(s)

Financial Information

Gross Income $55,680
Operating Expense $15,951
Net Operating Income $39,522
Expense Ratio 28.6 %
Debt Info

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 21

Download Documents

Other Listings by Maxwell Baker See More

Similar Mobile Home Parks for Sale