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56 Unit Mobile Home Park - 54 Park Owned units 197 East Parkton Tobermory Road, Parkton, NC 28371

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.3% (Actual)
  • Listing ID: 1535548
  • Posted On: Oct 13, 2021
  • Updated On: Mar 16, 2022

Description

Sprawling 56 unit Mobile Home Community among 53 acres in Parkton, NC just off interstate 95 and minutes south of Fayetteville, NC. 54 of the 56 units are park owned with the park 100% occupied for the past 6 years and a standing waiting list indicating rents are well below market.

Location

Parkton is a quiet small town community just south of Fayetteville, NC. The property sits adjacent to interstate 95 which is scheduled to be expanded in the next few years.

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Park Information

Community Type: All Age
Number of MH Lots: 56
Total Occupancy: 100.0 %
Year Built: 1999
Average MH Lot Rent: $140
Size: 53 acre(s)

Financial Information (Actual)

Gross Income: $395,940
Operating Expense: $116,288
Net Operating Income: $279,652
Expense Ratio: 29.4 %

Lot Information

Singlewide Lots: 44
Doublewide Lots: 11
Triplewide Lots: 1

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 54
Average Rent for Park-owned Homes: $600

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