Mobile Home Park Details

  • Listing ID: 2098115
  • Posted On: Feb 28, 2023
  • Updated On: Aug 15, 2023


Listing Broker: Jeff Dodge
Contact Jeff Dodge: +1-678-932-0200

CUMBERLAND COUNTY, NC - The MHP Broker is pleased to present the opportunity to acquire Alco Mobile Home Park, situated in the thriving city of Fayetteville, North Carolina. This park provides a unique opportunity for a savvy investor to revitalize an existing 22-pad community in the fastest-growing city in North Carolina, as well as the 3rd fastest-growing city in the country. Downtown Fayetteville is within approximately a 10-minute drive of the park, as well as an abundance of retail. Additionally, Fort Bragg Army Base -- home to The Airborne and Special Operations Forces, and is one of the largest military installations in the world by population, with around 54,000 military personnel -- is located nearby.

The property encompasses 3.6 acres, with existing city water and sewer infrastructure on all 22 pads. There are currently 10 mobile homes on site, but the Seller is currently in the process of evicting some of the 6 tenant-owned home (TOH) tenants (4 of these will convert to vacant park-owned homes (POH), along with a 2 BR/1.5 BA brick home in average condition). Based on a pro forma, given market rents of conservatively $350 and a 30% expense ratio, this park could produce an NOI of approximately $65,000/annually. At an 8% CAP rate, the lot value alone is over $800,000. This, along with the home(s), provides tremendous value, once the park is stabilized.

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Park Information

Number of MH Lots: 22
Size: 4 acre(s)

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 4

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