FOR SALE - Woods Hall Mobile Home Park - Tremendous upside - Claremont, NC

Listing was updated at: 04/23/2020
Property Overview
Price/Rent PSF $ 795,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available INQUIRE
Date Available 09/21/2016
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SPACIOUS MHP WITH TREMENDOUS UPSIDE. Over 10% Cap on YTD 2016 Income and 14.47% ProForma Cap. Extra Large Lots, One of the last MHP's permitted for construction in the county, built in 1999. So much potential for a new owner to improve existing cash flows. Well maintained, and only two minutes to I-40. Largest area employers within 5 to 15 minutes. Claremont is less than 12 minutes from Hickory and the primary shopping district of the surrounding 4 counties. This 37 space park has approximately 60% park-owned mobile homes – most are newer models with shingled roofs, vinyl siding and HVAC - with room for rent increases and additional lots ready for your own park owned homes to significantly increase NOI. As typical to area parks, Woods Hall MHP has well water and septic; however, new owner could easily add metering since rents are already under market. Huge upside potential on this one!