Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1511161
- Posted On: Sep 8, 2021
- Updated On: Dec 6, 2021
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 % |
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 |