Contact Information
Todd Baucom
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
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 |