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Mobile Home Park

Stanley MHP

102 Rural Ln, Stanley, NC 28164

Listing Price: Request For Offer

Number of Spaces
31
Lot Size
14.00 acres
Occupancy
96.8%
Spaces/Acre
2.21
Year Built
1980

Investment Overview

Stanley MHP, a 31 Lot, class C, manufactured home community in Stanley, NC that is stabilized, but has easily achievable upside. The community is located just 21 minutes from the center of downtown Charlotte. The community has 31 active MH lots with 30 tenant owned homes, and 1 vacant park owned home. It is worth mentioning that this park does have 3 lots that are “unusable” because they have been vacant for too long. Therefore, they can’t be used anymore and are not being included in our marketing details. The tenant owned home tenants currently pay an average lot rental rate of $415 per month, which is below current market rent estimated at $525 based on rent comparable surveys. Current occupancy is 96.77%. The overall market can support higher lot rents that surpass the $600 mark based on limited affordable housing supply and the fact that this is and has been one of the fastest growing cities and metros in the country over the last 10 years. In Stanley MHP, tenants have their water and sewer expenses paid for by the park. They have 3 wells and most are on 2:1 septic tanks, there are 17 tanks total. Trash is curbside pickup and is paid for by the park and tenants are directly billed for electric utilities. The roads are paved, in average condition, and are privately maintained by the park owner. The park is located in an excellent location near amenities and employment centers like Walmart, Food Lion, Home Depot, and Lowes and many other restaurants and employment opportunities being only a few miles away. The park is not in a flood zone and is not in an opportunity zone. Stanley, NC is a suburb of Gastonia which is perfect for anyone commuting to the city for work. But it is also a great place for employment, education, and suitable for any family. The state’s population grew 9.5% from 2010 to 2020 and now has 10.5 million residents, with Charlotte- Concord-Gastonia MSA accounting for over 25% of the state’s population. This community is offered through CBRE''s auction platform Real Insight Marketplace. You must register to bid. On a proforma basis we are projecting $525 lot rents, 31 occupied tenants. Upside comes from filling one vacant unit and raising rents, as well as continuing the cleanup and improvements of the community.

Investment Highlights

  • Stabilized Park
  • Easy achievable upside
  • All tenant owned homes

Exclusively Listed By

Listing Price: Request For Offer

Number of Spaces
31
Lot Size
14.00 acres
Occupancy
96.8%
Spaces/Acre
2.21
Year Built
1980

Investment Highlights

  • Stabilized Park
  • Easy achievable upside
  • All tenant owned homes

Investment Overview

Stanley MHP, a 31 Lot, class C, manufactured home community in Stanley, NC that is stabilized, but has easily achievable upside. The community is located just 21 minutes from the center of downtown Charlotte. The community has 31 active MH lots with 30 tenant owned homes, and 1 vacant park owned home. It is worth mentioning that this park does have 3 lots that are “unusable” because they have been vacant for too long. Therefore, they can’t be used anymore and are not being included in our marketing details. The tenant owned home tenants currently pay an average lot rental rate of $415 per month, which is below current market rent estimated at $525 based on rent comparable surveys. Current occupancy is 96.77%. The overall market can support higher lot rents that surpass the $600 mark based on limited affordable housing supply and the fact that this is and has been one of the fastest growing cities and metros in the country over the last 10 years. In Stanley MHP, tenants have their water and sewer expenses paid for by the park. They have 3 wells and most are on 2:1 septic tanks, there are 17 tanks total. Trash is curbside pickup and is paid for by the park and tenants are directly billed for electric utilities. The roads are paved, in average condition, and are privately maintained by the park owner. The park is located in an excellent location near amenities and employment centers like Walmart, Food Lion, Home Depot, and Lowes and many other restaurants and employment opportunities being only a few miles away. The park is not in a flood zone and is not in an opportunity zone. Stanley, NC is a suburb of Gastonia which is perfect for anyone commuting to the city for work. But it is also a great place for employment, education, and suitable for any family. The state’s population grew 9.5% from 2010 to 2020 and now has 10.5 million residents, with Charlotte- Concord-Gastonia MSA accounting for over 25% of the state’s population. This community is offered through CBRE''s auction platform Real Insight Marketplace. You must register to bid. On a proforma basis we are projecting $525 lot rents, 31 occupied tenants. Upside comes from filling one vacant unit and raising rents, as well as continuing the cleanup and improvements of the community.

Exclusively Listed By

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