Mobile Home Park Details

  • Property ID: 997236
  • Posted on Oct 10, 2018

Property Description

***Price TBD by Market***

Capstone Manufactured Housing is pleased to present Forrest Hills Mobile Home Community located 15 minutes east of the city of Asheville, North Carolina. The 89-site mobile home park is 76% occupied and is comprised of lease-option-purchase and park-owned homes. Asheville is the largest city in Western North Carolina and the MSA has shown steady population growth of 2.0% YOY since 2014. The average value of single-family residential real estate in Asheville is $275,000, and as a result the demand for affordable housing continues to rise. Forrest Hills has favorable proximity to I-40, which is the primary route connecting Asheville and Winston-Salem. The park benefits from in place operational efficiencies including a utility recapture program and directly metered electricity. This offering presents an investment opportunity to enter a rapidly growing North Carolina market, increase cash flow by driving rents while benefiting from significant demand for affordable housing.

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Park Information

Community Type: All Age
Number of MH Lots: 89
Total Occupancy: 82.0 %
Average MH Lot Rent: $310
Size: 30.3 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 13

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