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Mobile Home Park

AJ Wesley Mobile Home Park

123 A J Wesley Ave, Gastonia, NC 28056

Listing Price: $1,200,000

Cap Rate
7.56%
Number of Spaces
14
Lot Size
2.64 acres
Occupancy
92.0%
Price/Space
$85,714
Spaces/Acre
5.30
Year Built
1940

Investment Overview

Marcus & Millichap is pleased to present this Market Positioning and Valuation analysis for the A J Wesley mobile home park. The community is closely located to desirable and growing Belmont, NC and consists of 14 rental units comprised of 3 brand new TRU mobile home units, 9 recently refurbished mobile homes, and 2 freshly renovated single family homes. Situated on three parcels totaling 2.64+/- acres, electricity is sub metered, water is from a community well, and sewer is septic. The park has been very well maintained and there is upside potential as home rents for the park are below comparable communities in the submarket. Residents of A J Wesley Mobile Home Park enjoy the walkability to attractive schools combined with easy accessibility to Charlotte, Gastonia, Belmont, and surrounding areas. The community is convenient to economic generators and Charlotte International Airport, recreational attractions such as the Catawba River and Lake Wiley, as well as the rejuvenated downtown areas of Belmont and Gastonia. Rent growth potential, established cash flows, and growth of the local and regional Charlotte markets provide a compelling basis for attractive returns with this investment opportunity.

Investment Highlights

  • Located in One of Charlotte's Fastest Growing Submarkets
  • Well Maintained Park With New and Freshly Renovated Homes that Support a Low Maintenance and Repair Expense Structure
  • Close Proximity to Schools, Interstates, the Airport, and Economic Generators

Exclusively Listed By

Mobile Home Park

AJ Wesley Mobile Home Park

Listing Price: $1,200,000

Cap Rate
7.56%
Number of Spaces
14
Lot Size
2.64 acres
Occupancy
92.0%
Price/Space
$85,714
Spaces/Acre
5.30
Year Built
1940

Investment Highlights

  • Located in One of Charlotte's Fastest Growing Submarkets
  • Well Maintained Park With New and Freshly Renovated Homes that Support a Low Maintenance and Repair Expense Structure
  • Close Proximity to Schools, Interstates, the Airport, and Economic Generators

Investment Overview

Marcus & Millichap is pleased to present this Market Positioning and Valuation analysis for the A J Wesley mobile home park. The community is closely located to desirable and growing Belmont, NC and consists of 14 rental units comprised of 3 brand new TRU mobile home units, 9 recently refurbished mobile homes, and 2 freshly renovated single family homes. Situated on three parcels totaling 2.64+/- acres, electricity is sub metered, water is from a community well, and sewer is septic. The park has been very well maintained and there is upside potential as home rents for the park are below comparable communities in the submarket. Residents of A J Wesley Mobile Home Park enjoy the walkability to attractive schools combined with easy accessibility to Charlotte, Gastonia, Belmont, and surrounding areas. The community is convenient to economic generators and Charlotte International Airport, recreational attractions such as the Catawba River and Lake Wiley, as well as the rejuvenated downtown areas of Belmont and Gastonia. Rent growth potential, established cash flows, and growth of the local and regional Charlotte markets provide a compelling basis for attractive returns with this investment opportunity.

Exclusively Listed By

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