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Address is 100 Tadpole Ln Maysville, NC 28555

Katharine Parks

William A Parks & Associates, Inc.

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Running Root Estates

Mobile Home Community for Sale in Maysville, North Carolina

100 Tadpole Ln
Maysville, NC 28555

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This Mobile Home Park is Off Market

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Mobile Home Park for Sale

Number of MH Lots: 18
Size: 17.8 acre(s)
Cap Rate: 12.0%
Purchase Method: Cash, New Loan
Status: Off Market
Property ID: 827017
Posted on: Jun 28, 2017
Updated on: Sep 29, 2017

Property Description

Well maintained eighteen unit double wide (park owned) mobile home park on over 17 acres inside the soon-to-be completed Maysville NC bypass off of Hwy 17.

12% CAP Rate with IMMEDIATE upside potential with proper tenant management (owner has been dealing with serious family issues for the past five years, and has kept up with maintenance, but been a bit slack on tenant management - see prospectus notes).

Homes have individually metered city water and each have private septic. Street lights and off street parking on two private dead end roads.

Visit www.kitparks.com/sale for more information..Be sure to see aerial drone video link next to photos tab above.

Location Description

Located ten miles north of Jacksonville, NC's best part of town, and two miles south of the village of Maysville. Just off of Hwy 17, and just inside the soon-to-be completed south corner of the Maysville bypass.

The property across the highway just got approval to be re-zoned HB, paving the way for this property to also be rezoned should the new owner ever desire to do so. This corridor of Hwy 17 is getting ready to explode with the completion of the four lane road and new bypass.

Park Information

Number of MH Lots:18
Total Occupancy:95.0%
Year Built:2002
Average MH Lot Rent: $814
Size:17.8 acre(s)

Financial Information (Pro Forma)

Gross Income$168,264
Operating Expense$33,653
Net Operating Income$134,611
Expense Ratio 20.0%
Debt Info0

Lot Information

Doublewide Lots:18

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes:18
Average Rent for Park-owned Homes: $814


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