Contact Information

Mobile Home Park Details

  • Price: $410,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1511161
  • Posted On: Sep 8, 2021
  • Updated On: Sep 14, 2021

Property Description

This portfolio consist of 3 mobile home parks.
Park 1 has 6 spaces with homes in place with 4 currently rented and 1 stick built home also rented. All tenants have been in residences for 3 plus years. City water/ sewer.
Park 2 has 12 pads. Homes are on 8 pads with only 5 set up. Well/septic.
Park 3 has 2 lots with distressed home. Double wide can be rehabed. Single wide should be torn down. Well/septic.
Gravel Roads Lots of potential...all rents are below average market value with room to increase. 28 miles from Charlotte. Walking distance to amenities. Viewings should be scheduled.NO DRIVE THRU. Please respect tenant privacy.

Location

All located in Lincolnton. 1 inside city limits 2 are in the county.

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Park Information

Community Type: All Age
Number of MH Lots: 20
Total Occupancy: 48.0 %
Year Built: 70
Average MH Lot Rent: $450
Size: 12 acre(s)

Financial Information (Actual)

Gross Income $40,000
Operating Expense $2,400
Net Operating Income $37,600
Expense Ratio 6.0 %
Debt Info

Lot Information

Singlewide Lots: 19
Doublewide Lots: 1
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $450

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