Hidden Lakes MHC 1020 Twin Lakes Dr

The Esterson MHC Team is excited to present Hidden Lakes Manufactured Home Community, a 85-unit manufactured home community located in the serene town of King, NC which is part of the Winston- Salem NC MSA. This well-maintained community presents significant upside potential. The Winston-Salem NC MSA has a population of approximately 695,630 and is growing rapidly, and benefits from its strategic location within the state, making it an attractive market for future development initiatives.
Hidden Lakes Manufactured Home Community features 85 active MH lots. There are 33 tenant-owned homes (TOH, 5 rent to own homes (RTO and 47 vacant lots. The average lot rental rate is $430 per month, offering a significant opportunity to increase rents to market due to the limited supply of affordable housing and the growing demand in this market.
The community operates on public water and private sewer systems. Tenants are responsible for water utility payments, and curbside trash service is billed back to the residents. The landlord is responsible for the sewer system costs. Private roads are paved and in good condition enhancing both the value and appeal of the property. Additionally, recent tree trimming and general park beautification projects have been completed, providing added convenience and safety for tenants, making this community an even more attractive living environment.
Hidden Lakes Manufactured Home Community is currently managed by an on-site manager who oversees day-to-day operations. This community is priced at $2,650,000 and presents a value-add opportunity for investors looking to acquire a good asset with major upside potential. Both conventional recourse, non-recourse, and bridge lending options are available. Interested parties are encouraged to submit their offers with price, timeline, escrow amount, and a list of due diligence requirements. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.