2333 Howard Arnett Rd - Manufactured Housing/Mobile Housing FOR SALE


Lenoir, NC 28645
$700,000 USD
2333 Howard Arnett Rd, Lenoir, NC for Sale
$700,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/5
null | 7.54% Cap Rate

2333 Howard Arnett Rd
Lenoir, NC 28645


HIGHLIGHTS

  • Consistent cashflow from Lot Rent homes with minimal maintenance and management
  • Opportunity for development of up to 65 lots just outside of the desirable Appalachian Mountains
  • Close proximity to Blowing Rock, Hickory and Lenoir Downtowns
  • Asset elevation contours allow for large, desirable lots

OVERVIEW

Marcus & Millichap is pleased to present Green Mountain MHC. Located in the beautiful Appalachian Mountains, Green Mountain MHC provides an investor the opportunity to continue to increase rental rates by 40% as well as expand the number of pads. Growth within the market is being supported by its’ proximity to Hickory, a diverse and growing economy just south of Lenoir. Comprised of 26 pads that are all lot rent spaces, the asset also includes one stick-built home and an on-site apartment. There is a tremendous opportunity to develop the rest of this approved asset and take advantage of a growing market. The park is serviced by sub-metered city water and septic tanks. Development of this asset will allow for Northwest views of the mountain premier lots within the Hickory-Lenoir Markets.

FOR SALE DETAILS

PRICE

$700,000 USD

PRICE/SF

$70 USD /SF

# OF UNITS

26

PRICE/UNIT

$26,923

CAP RATE

7.54%

% LEASED

73%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Green Mountain MHC

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8 AC

LAND SF

348,480 SF

ZONING

-

APN/PARCEL ID

09158-1-17

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