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Listed by CAROLINA SUMMIT GROUP #1
$ 1,510,870
Est. payment /mo
New
109 Smiths MHP Lane Chinquapin, NC 28521
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID LP750811
Property Sub-Type Multi Family
Source Triangle MLS
Property Description
This offering includes two value-add mobile home park investments in Eastern North Carolina. Cornerstone Mobile Home Park, located on Haws Run Road in Jacksonville, Onslow County, sits on approximately 1.68 acres and features 13 pads with 11 existing units. Zoned R-8M (Residential-8 Manufactured Housing), the property provides potential for expansion or improvements to increase income in the growing Jacksonville market. Smiths Mobile Home Park, located off Ludie Brown Road in Chinquapin, Duplin County, consists of two tracts totaling approximately +/- 5.71 net acres with 8 pads and 7 existing homes. Served by septic systems and county water, the property is considered unzoned under Duplin County land use ordinances. Both properties are within half a mile of a Voluntary Agricultural District. Combined, the parks generate an NOI of $151,087, offering a cap rate of 10%, and provide investors with strategic opportunities to enhance income in two North Carolina markets.
Location
State NC
County Duplin
Zoning OTHER - Other
Exterior
Private Pool No
Building
Sewer Septic Tank
Structure Type Unknown
Others
Senior Community No
Tax ID 082256 1 & 082256 1 1
Special Listing Condition Standard
