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Mobile Home Park

Parker View MHP

2730 Parker Padgett Rd, Old Fort, NC 28762

Listing Price: $450,000

Cap Rate
8.10%
Number of Spaces
23
Lot Size
16.62 acres
Occupancy
73.0%
Price/Space
$19,565
Spaces/Acre
1.38
Year Built
1960

Investment Overview

Marcus & Millichap is pleased to present this Exclusive Listing for Parker View MHP, located in Old Fort, North Carolina. Situated in the beautiful Appalachian Mountains, Old Fort enjoys a truly peaceful lifestyle, while benefiting from close proximity to growing and desirable Asheville, NC. Parker View MHP has potential to capture strong returns by increasing lot rents by 35% to market rate and renovating 3 units to bring online. The 23-lot community is comprised of 11 park owned homes, 8 lot rents, 3 vacant units, and an additional empty lot. Sewer is septic, water is provided by wells, and direct tenant billing is in place for electricity. With scenic views, proximity to downtown Asheville, access to major highways, established revenue, and value add potential, the asset is superbly positioned to leverage the growth of the Asheville and Southeast markets. Located on a rolling hill landscape, Parker View MHP offers residents a spacious community that showcases the Appalachian Mountains in the distance. Tucked away off of Interstate 40, the asset couples quiet, lightly wooded lots with close proximity to Black Mountain and Marion city centers. Residents and tourists enjoy beautiful attractions, such as the Catawba Falls, Andrew’s Geyser, and outdoor venues. Only 29 miles from downtown Asheville this 16.62+/- acre community provides an investor with value-add potential just outside the growing sub-markets to Asheville, NC.

Investment Highlights

  • Substantial rent growth opportunity by increasing rents approximately 35% and renovating vacant units
  • Close proximity to Asheville (29 miles) and Black Mountain Downtown (13 miles), Parker View MHP benefits from rapidly growing sub-markets.
  • Continued population growth and investor interest in North Carolina markets provide additional upside opportunity

Exclusively Listed By

Mobile Home Park

Parker View MHP

Listing Price: $450,000

Cap Rate
8.10%
Number of Spaces
23
Lot Size
16.62 acres
Occupancy
73.0%
Price/Space
$19,565
Spaces/Acre
1.38
Year Built
1960

Investment Highlights

  • Substantial rent growth opportunity by increasing rents approximately 35% and renovating vacant units
  • Close proximity to Asheville (29 miles) and Black Mountain Downtown (13 miles), Parker View MHP benefits from rapidly growing sub-markets.
  • Continued population growth and investor interest in North Carolina markets provide additional upside opportunity

Investment Overview

Marcus & Millichap is pleased to present this Exclusive Listing for Parker View MHP, located in Old Fort, North Carolina. Situated in the beautiful Appalachian Mountains, Old Fort enjoys a truly peaceful lifestyle, while benefiting from close proximity to growing and desirable Asheville, NC. Parker View MHP has potential to capture strong returns by increasing lot rents by 35% to market rate and renovating 3 units to bring online. The 23-lot community is comprised of 11 park owned homes, 8 lot rents, 3 vacant units, and an additional empty lot. Sewer is septic, water is provided by wells, and direct tenant billing is in place for electricity. With scenic views, proximity to downtown Asheville, access to major highways, established revenue, and value add potential, the asset is superbly positioned to leverage the growth of the Asheville and Southeast markets. Located on a rolling hill landscape, Parker View MHP offers residents a spacious community that showcases the Appalachian Mountains in the distance. Tucked away off of Interstate 40, the asset couples quiet, lightly wooded lots with close proximity to Black Mountain and Marion city centers. Residents and tourists enjoy beautiful attractions, such as the Catawba Falls, Andrew’s Geyser, and outdoor venues. Only 29 miles from downtown Asheville this 16.62+/- acre community provides an investor with value-add potential just outside the growing sub-markets to Asheville, NC.

Exclusively Listed By

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