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Mobile Home Park

3 Park Portfolio - Greensboro, NC MSA

1403 W Morton St, Madison, NC 27025

Listing Price: $1,900,000

Cap Rate
5.90%
Number of Spaces
52
Lot Size
11.77 acres
Occupancy
100.0%
Price/Space
$36,538
Spaces/Acre
4.42
Year Built
1990

Investment Overview

Marcus & Millichap is pleased to present this 3-park, 52-unit manufactured housing portfolio, a stabilized with upside investment opportunity located in the Greensboro, NC MSA.

The Greensboro-High Point, NC MSA is experiencing sustained growth and benefits from its strategic
location along major transportation corridors. With a diverse economy driven by manufacturing, healthcare, education, and logistics, it’s home to major corporations like Volvo Trucks North America,
Honda Aircraft Company, and the VF Corporation. The parks in this portfolio are only 40 minutes from
downtown Greensboro. With less than a mile between 2 of the parks and a 15 min drive to the third and
largest park, the portfolio can be managed by one individual or team.

This portfolio is 100% occupied and consists of 33 tenant owned homes (TOH) and 19 rent to own homes
(RTO). The average lot rental rate per month is $255 and the average RTO payment above lot rent is $313.
The lot rental rate is significantly below market. The RTO homes are an average age of 1997 and in average condition. The tenant owned homes are similar ages and also in average condition.

All utilities at all parks are paid for by the tenant and billed directly to them. The water, sewer, and electric
are public, and the trash is serviced by curbside bins. The roads are gravel and in average condition. There
are NO flood zones and NO opportunity zones at any of the parks.

This portfolio is being offered at $1,900,000 and seller financing is available. The seller financing terms
offered are 40% down payment, 12 months of interest only at 5% interest rate, then 24 months at 5%
interest rate and a 25-year amortization, with a 36-month balloon. All offers must include price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience

Investment Highlights

  • 100% Occupied
  • All utilities at all parks are public and billed directly to tenants
  • Majority of tenants (63%) are tenant owned homes

Exclusively Listed By

Mobile Home Park

3 Park Portfolio - Greensboro, NC MSA

Listing Price: $1,900,000

Cap Rate
5.90%
Number of Spaces
52
Lot Size
11.77 acres
Occupancy
100.0%
Price/Space
$36,538
Spaces/Acre
4.42
Year Built
1990

Investment Highlights

  • 100% Occupied
  • All utilities at all parks are public and billed directly to tenants
  • Majority of tenants (63%) are tenant owned homes

Investment Overview

Marcus & Millichap is pleased to present this 3-park, 52-unit manufactured housing portfolio, a stabilized with upside investment opportunity located in the Greensboro, NC MSA. The Greensboro-High Point, NC MSA is experiencing sustained growth and benefits from its strategic location along major transportation corridors. With a diverse economy driven by manufacturing, healthcare, education, and logistics, it’s home to major corporations like Volvo Trucks North America, Honda Aircraft Company, and the VF Corporation. The parks in this portfolio are only 40 minutes from downtown Greensboro. With less than a mile between 2 of the parks and a 15 min drive to the third and largest park, the portfolio can be managed by one individual or team. This portfolio is 100% occupied and consists of 33 tenant owned homes (TOH) and 19 rent to own homes (RTO). The average lot rental rate per month is $255 and the average RTO payment above lot rent is $313. The lot rental rate is significantly below market. The RTO homes are an average age of 1997 and in average condition. The tenant owned homes are similar ages and also in average condition. All utilities at all parks are paid for by the tenant and billed directly to them. The water, sewer, and electric are public, and the trash is serviced by curbside bins. The roads are gravel and in average condition. There are NO flood zones and NO opportunity zones at any of the parks. This portfolio is being offered at $1,900,000 and seller financing is available. The seller financing terms offered are 40% down payment, 12 months of interest only at 5% interest rate, then 24 months at 5% interest rate and a 25-year amortization, with a 36-month balloon. All offers must include price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience

Exclusively Listed By

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