Contact Information

Mobile Home Park Details

  • Price: $1,950,000
  • Cap Rate: 7.8%
  • Property ID: 2021579
  • Posted On: Jan 23, 2023
  • Updated On: Jan 23, 2023

Property Description

Community consists of four brick, ranch-style homes and 21 mobile home spaces on approximately 8 acres. Nine tenant-owned homes, 10 park-owned homes that have been extensively renovated and well maintained and include one doublewide home and one brand new singlewide, and two vacant spaces. Community is served by shared septic systems and two wells, with a new County water line extending to the Property in 2024. There is a small transferrable mortgage in place with favorable terms.

Location

Located Southwest of Downtown Gastonia and near the Chapel Grove Elementary School.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 92.0 %
Average MH Lot Rent: $335
Size: 8 acre(s)

Financial Information (Actual)

Gross Income $225,288
Operating Expense $72,759
Net Operating Income $152,529
Expense Ratio 32.3 %
Debt Info

Lot Information

Singlewide Lots: 18
Doublewide Lots: 1

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 10
Average Rent for Park-owned Homes: $1,100

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