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Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1531716
  • Posted On: Oct 7, 2021
  • Updated On: May 9, 2022

Property Description

https://estersonmhcteam.​com/property/spring-lake-mhc

Contact Dylan Hellberg for more information

Located next to Fort Bragg, 195 lot manufactured home community with upside in infill and lot rent.​

Fort Bragg, the largest US Army base and one of the biggest in the world, has roughly 54,000 active personnel, 70,000 active-duty family members, 14,000 civilian members, and 121,000 army retirees and family members in the Fayetteville metro.​ The Spring Lake population is growing at 7.8% and the average list price of homes in Spring Lake was $260,000 in March of 2022, a 5.4% increase year-over-year.​

This property presents an excellent opportunity to serve the need for local affordable housing.​ Spring Lake MHC is a heavy value add opportunity that consists of 195 active MH Lots with 71 tenant owned homes (TOH), 4 rented park owned homes (POH), and 120 vacant lots.​

The park is a year-round, all-ages community that’s serviced by public water and sewer billed directly to tenants.​ Electricity is also billed directly to tenants.​ Trash is serviced by curbside bins, paid for by the park and included in rent.​ The 4 park owned homes are 2021 single-wides.​ The roads are paved and in average to below average shape.​ According to current setback rules in Spring Lake, NC, the maximum length of home you can infill vacant lots with is 55 feet.​

We are asking that investors submit offers by the call for offer date of May 25, 2022.​ We will not be proving any pricing guidance.​

Location

Fayetteville NC MSA, Population: 529,252 (+8%)

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Park Information

Community Type: All Age
Number of MH Lots: 195
Total Occupancy: 36.9 %
Average MH Lot Rent: $200
Size: 48 acre(s)

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 4

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