Value-add Mobile Home Park - Priced to Sale! | 1657 N Lafayette St
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Value-add Mobile Home Park - Priced to Sale! 1657 N Lafayette St
16 Unit Mobile Home Park $215,000 ($13,438/Unit) 11.22% Cap Rate Shelby, NC 28150
Investment Highlights
- Priced to Sale
- Fast growing market
- Value-add opportunity
Executive Summary
Incredible value-add investment opportunity. Mobile home park with 17 lots, each with private or shared septic and shared, newly replaced well. Currently 5 trailers are occupied, 1 is move-in ready, 10 require replacement, one lot is empty.
This mobile home park spans over 10AC of beautifully located property in a fast growing area. Shelby NC has predicted 4.5% population and income growth annually.
This mobile home park is currently generating NOI $24k, with the rents being below the market average and less than 30% of the units being occupied. With additional investment you can turn this property into phenomenal cash flow investment.
Priced to sale! Don't miss out on this amazing opportunity!
CALLING FOR HIGHEST AND BEST BY WEDNESDAY (11/20) 10AM
This mobile home park spans over 10AC of beautifully located property in a fast growing area. Shelby NC has predicted 4.5% population and income growth annually.
This mobile home park is currently generating NOI $24k, with the rents being below the market average and less than 30% of the units being occupied. With additional investment you can turn this property into phenomenal cash flow investment.
Priced to sale! Don't miss out on this amazing opportunity!
CALLING FOR HIGHEST AND BEST BY WEDNESDAY (11/20) 10AM
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $215,000 | Property Type | Multifamily |
| Price Per Unit | $13,438 | Property Subtype | Manufactured Housing/Mobile Home |
| Sale Type | Investment | Building Size | 11,824 SF |
| Cap Rate | 11.22% | No. Stories | 1 |
| No. Units | 16 | Year Built | 1985 |
| Price | $215,000 |
| Price Per Unit | $13,438 |
| Sale Type | Investment |
| Cap Rate | 11.22% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Size | 11,824 SF |
| No. Stories | 1 |
| Year Built | 1985 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $450.00 | - |
| 3+1 | 1 | $700.00 | - |
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zoning
| Zoning Code | RR (This property was grandfather in as a mobile home park. The new owner can keep it as a MHP but more lots can be added only with a special use permit.) |
| RR (This property was grandfather in as a mobile home park. The new owner can keep it as a MHP but more lots can be added only with a special use permit.) |
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Value-add Mobile Home Park - Priced to Sale! | 1657 N Lafayette St
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