Extremely unique opportunity just minutes from Lincolnton’s growing downtown! This property consists of three parcels (51604, 51605, 51606), totaling just under 10 acres. Zoned R-25, with a small portion of parcel 51606 zoned GMC. Parcels will not be sold separately.
Property Breakdown:
3 stick-built homes currently rented
3 stick-built homes vacant & in need of rehab
2 mobile homes currently rented
5 uninhabitable mobile homes (likely need removal, presenting a ground lease or replacement opportunity for 4 of them)
Utilities:
Shared community well (except 1275 W Highview, which has its own well)
City water tap available
Income Potential & Value-Add:
All rents are below current market value, allowing room for rent increases
Only one written lease ($400/month for a trailer); all others are verbal month-to-month
Potential for increased cash flow through rehab, rent increases, and ground leasing
1275 W Highview Ln, 2/1 - $800
1261 W Highview Ln, 4/1 - $900
1218 W Highview Ln, 2/1 - $800
1253 W Highview Ln, 2/1 - $400
1233 W Highview Ln, 1/1 - $550
Please do not disturb tenants! Contact me for more details.