Contact Information
Glenn Esterson
License: NC: 272218
Mobile Home Park Details
- Price: $33,000,000
- Purchase Method: Cash
- Cap Rate: 6.9% (Actual)
- Listing ID: 6984866
- Posted On: Oct 22, 2025
- Updated On: Oct 22, 2025
Description
The Esterson MHC Team is pleased to present this 22 Park Portfolio, a 752-unit manufactured housing community portfolio centrally located around Fayetteville, NC. This offering represents a rare opportunity to acquire a geocentric, cash-flowing, value-add portfolio in a high-demand market with strong demographics and limited affordable housing supply.
The property benefits from proximity to major job centers, including Fort Liberty (formerly Fort Bragg), Cape Fear Valley Medical Center, and downtown Fayetteville. The region is supported by a strong tenant base of military families, healthcare workers, and workforce housing renters, making this an attractive submarket for yield-focused MHC investors.
The portfolio includes 752 total units, comprised of 339 tenant owned homes (TOH), 28 rented park owned homes (POH), 147 rent to own homes (RTO), 4 rented apartments (APT), 2 rented single family homes (SFH), 103 vacant POH, 4 vacant APT, 1 vacant SFH, 1 vacant shop, 6 abandoned homes, and 117 vacant manufactured housing lots. The average lot rental is currently $462/month.
The parks are serviced by a mix of public and private utilities. 21 parks are on public water and 1 park is on a well. 9 parks are on public sewer and 13 are on septic systems. All parks with public water and sewer are direct billed or billed back to tenants. Trash at most parks is serviced by curbside bins, which historically were billed back to tenants, but the bill back is phasing out and most trash is included in rent now. Most of the roads are paved and maintained by the park, with some roads being gravel or dirt and privately maintained.
We are asking investors to submit offers on the full 22 park portfolio at $33,000,000. Alternatively it can be purchased as three separate portfolios. Portfolio One is parks #1-10 and is priced at $13,500,000. Portfolio Two is parks #11-17 and is priced at $14,000,000. Portfolio Three is parks #18-22 and is priced at $5,500,000. All offers must include pricing, inspection period, funding source, and appropriate due diligence timelines.
Location
Fayetteville is a historically significant city located in southeastern North Carolina, serving as the county seat of Cumberland County and home to Fort Liberty (formerly Fort Bragg), one of the largest military installations in the world. The city benefits from its strategic location along Interstate 95, offering direct access to Raleigh, Charlotte, and the Atlantic coast, while also serving as a regional hub for military logistics, defense contracting, and government services.
The local economy is driven by a strong federal and defense presence, complemented by education, healthcare, and manufacturing. Major institutions include Cape Fear Valley Health System, Fayetteville State University, and Methodist University. With ongoing infrastructure improvements, expanding retail corridors, and a revitalizing downtown district, the region continues to attract military families, contractors, and long-term residents seeking affordability and stability.
With affordable housing options, military BAH stability, and population churn from active duty and civilian government personnel, Fayetteville has become an appealing market for value-add investors focused on mobile home parks, affordable workforce housing, and RV accommodations that serve both permanent residents and transients.
Park Information
| Number of MH Lots: | 752 |
| Total Occupancy: | 72.3 % |
| Average MH Lot Rent: | $462 |
| Size: | 129 acre(s) |
Financial Information (Actual)
| Gross Income: | $3,429,560 |
| Operating Expense: | $1,154,873 |
| Net Operating Income: | $2,274,687 |
| Expense Ratio: | 33.7 % |
Lot Information
| Singlewide Lots: | 752 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 131 |
| Average Rent for Park-owned Homes: | $853 |
