Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1676669
- Posted On: May 24, 2022
- Updated On: Nov 22, 2022
Description
Chestnut Ridge Mobile Home Park consists of 9 park owned units and 7 lot rentals on 8.7 acres. Park has great rental history, easy management system in place, potential for raising rents over time, and located in fast growing Marion, NC. Close to schools, with easy access to all areas of Marion. Great opportunity to own a park with good cash flow and the potential for increased rents as Marion continues to grow.
Location
Located in Marion NC - 45 minutes to Asheville, 15 minutes to Morganton NC.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $225 |
| Size: | 9 acre(s) |
Financial Information (Actual)
| Gross Income: | $82,200 |
| Operating Expense: | $4,352 |
| Net Operating Income: | $76,948 |
| Expense Ratio: | 5.3 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $580 |
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