Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.3%
- Property ID: 1535548
- Posted On: Oct 13, 2021
- Updated On: Mar 16, 2022
Property 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 % |
| Debt Info |
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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