Contact Information

Mobile Home Park Details

  • Price: $1,150,000
  • Cap Rate: 4.3%
  • Property ID: 1492136
  • Posted On: Aug 6, 2021
  • Updated On: Aug 11, 2021

Property Description


Please contact Dylan Hellberg for more information (843) 469-0347 dylan.​hellberg@marcusmillichap.​com

Heavy value add opportunity with achievable upside in occupancy and rent, located in a rapidly growing community 35 min from downtown Fayetteville, NC.​

North Raeford MHC consists of 75 MH lots with 31 tenant owned homes (TOH), 13 rent to own homes (RTO), 1 vacant POH, 2 abandoned homes, and 29 vacant lots.​ *1 abandoned home is on a lot that is not usable and is not part of the 75-lot count.​ The average lot rent in the park is $195 and the average RTO payment above lot rent is $222.​ The rent to own units are an average vintage of mid to late 80’s and generally in below average shape.​

The park is serviced by public water that’s billed directly to tenants, a 2:1 septic system, and public electricity that is billed directly to tenants.​ Trash is serviced by curbside bins and paid for by the park.​ The roads are dirt and in average condition.​

The pricing represents a 4.31% CAP rate using lot rent income only at a 52.8% expense ratio.​ We are asking investors to submit CASH offers at or above $1,150,000.​ We do not expect this park to qualify for conventional financing.​ At $300 market lot rent and full occupancy, an investor can exit this property at a 6.25% CAP rate for $2,695,000.​

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

Park Information

Number of MH Lots: 75
Total Occupancy: 58.7 %
Size: 25 acre(s)

Financial Information (Actual)

Gross Income $101,930
Net Operating Income $48,086
Debt Info

Utility Information

Water: City
Sewer: Septic

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