Mobile Home Park Details

  • Cap Rate: 10.0%
  • Listing ID: 12997
  • Posted On: Jun 2, 2010
  • Updated On: Oct 12, 2010

Description

This 5 unit park is situated on approximately 2 + acres of rolling land. It is set in a rural setting. Each home enjoys a large lot. 2 of the park owned homes are fronting on a paved street as well as the house. The other 2 have gravel lanes to access. The frame home well maintained and has three bedrooms and is approx 1,100 sf. and has a covered front porch and a large deck on the rear. The house is also about 10 to 15 years old and in very nice condition. It has central heat and air conditioning. The house alone is tax appraised at about $90,000 on it's seperate lot. This would be an ideal setting for an owner to live in the home and derive income from the 4 rental mobile homes. The park is serviced by it's own well system and individual septic tanks.

Location

Valley Mobile Home Park is located in the quiet picturesque small village of Rutherford College, NC in Beautiful Burke County. It is located on Mourglea Ave. just off Rutherford College Road and I-40. The property is convenient to Morganton, Hickory and Lenoir. Asheville NC is just over an hour away as is Charlotte about one hour plus away.

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Park Information

Number of MH Lots: 5
Year Built: 1980

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $320