Contact Information

Mobile Home Park Details

  • Price: $474,500
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.9%
  • Property ID: 1699962
  • Posted On: Jun 28, 2022
  • Updated On: Jul 26, 2022

Property Description

What an opportunity! A total of 6 units on this property in the desired Webster Community and less than 4 miles from WCU and 3 miles to Sylva. This well-maintained home is a 2/2 with a full walk out basement. The home provides main floor living with wood flooring. The other 5 units currently rent month to month with no owner responsibility other than mowing, general maintenance, water and sewer (well and septic). The tenant hauls trash and maintains their own utilities. The mobile home units have newer metal roofs and skirting. Upside potential with very limited options for lease on site built homes and all of the mobile homes are currently leased well below market rates. Vacant area of land (approximate .35 acre) that is on grade and would make a good self storage site, RV/camper/boat storage or wrecker storage site that could create further revenue source. Proforma available upon request.

Location

Residential area located between Sylva, NC and Western Carolina University in Cullowhee

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Park Information

Community Type: All Age
Number of MH Lots: 5
Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income $61,110
Operating Expense $21,420
Net Operating Income $39,690
Expense Ratio 35.1 %
Debt Info NA

Lot Information

Singlewide Lots: 5
Doublewide Lots: 1
Triplewide Lots: 0

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $400

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