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Robeson County Five-Park MHC Portfolio

Multi Family Housing for Sale in Lumberton, North Carolina

268 Ronald Blvd.
Lumberton, NC 28360

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Sale Price: $2,700,000

Contact Information

The Mhp Broker

Mobile Home Park for Sale

Number of MH Lots: 293
Size: 53.8 acre(s)
Purchase Method: Cash, New Loan
Status: Active
Property ID: 910675
Posted on: Mar 16, 2018
Updated on: Mar 20, 2018
Price: $2,700,000

Property Description

Lee & Associates and The MHP Broker are pleased to offer the sale of Robeson County Five-Park Manufactured Home Community Portfolio in Lumberton, North Carolina (Fayetteville-Lumberton NC MSA). This well-located, value-add portfolio has plenty of upside in a strong market. All parks are excellently located near all amenities close to downtown Lumberton. Plenty of single family housing has been recently built or under construction in the adjacent areas with new housing starting at approximately $175,000.

The MHC portfolio contains a total of 293 lots with 80 lot rent only tenants each paying an average rent of $195 per month, with a low of $175 and a high of $250. There are 77 vacant lots evenly spread throughout the five parks. Current occupancy is roughly 54%, including 61 vacant POH and the 77 vacant lots.

There are 138 park-owned homes that are in average condition of mostly mid-1980s models. The tenant-owned units are in average shape with the majority of them being ‘80s and ‘90s models. The privately maintained roads are paved and in poor condition as our offering price suggests. All parks are NOT in a flood zone.

Park Information

Number of MH Lots:293
Total Occupancy:54.0%
Average MH Lot Rent: $195
Size:53.8 acre(s)