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Mobile Home Park

Spring Lake MHC

1301 Romie St, Spring Lake, NC 28390

Listing Price: Request For Offer

Number of Spaces
195
Lot Size
47.90 acres
Occupancy
36.9%
Spaces/Acre
4.07
Year Built
1980

Investment Overview

Located next to Fort Bragg, 195 lot manufactured home community with upside in infill and lot rent. Fort Bragg, the largest US Army base and one of the biggest in the world, has roughly 54,000 active personnel, 70,000 active-duty family members, 14,000 civilian members, and 121,000 army retirees and family members in the Fayetteville metro. The Spring Lake population is growing at 7.8% and the average list price of homes in Spring Lake was $260,000 in March of 2022, a 5.4% increase year-over-year. This property presents an excellent opportunity to serve the need for local affordable housing. Spring Lake MHC is a heavy value add opportunity that consists of 195 active MH Lots with 71 tenant owned homes (TOH), 4 rented park owned homes (POH), and 120 vacant lots. The park is a year-round, all-ages community that’s serviced by public water and sewer billed directly to tenants. Electricity is also billed directly to tenants. Trash is serviced by curbside bins, paid for by the park and included in rent. The 4 park owned homes are 2021 single-wides. The roads are paved and in average to below average shape. According to current setback rules in Spring Lake, NC, the maximum length of home you can infill vacant lots with is 55 feet. We are asking that investors submit offers by the call for offer date of May 25, 2022. We will not be proving any pricing guidance.

Investment Highlights

  • Public water/sewer billed directly to tenants
  • Opportunity to infill 120 vacant lots
  • Heavy value add opportunity

Exclusively Listed By

Mobile Home Park

Spring Lake MHC

Listing Price: Request For Offer

Number of Spaces
195
Lot Size
47.90 acres
Occupancy
36.9%
Spaces/Acre
4.07
Year Built
1980

Investment Highlights

  • Public water/sewer billed directly to tenants
  • Opportunity to infill 120 vacant lots
  • Heavy value add opportunity

Investment Overview

Located next to Fort Bragg, 195 lot manufactured home community with upside in infill and lot rent. Fort Bragg, the largest US Army base and one of the biggest in the world, has roughly 54,000 active personnel, 70,000 active-duty family members, 14,000 civilian members, and 121,000 army retirees and family members in the Fayetteville metro. The Spring Lake population is growing at 7.8% and the average list price of homes in Spring Lake was $260,000 in March of 2022, a 5.4% increase year-over-year. This property presents an excellent opportunity to serve the need for local affordable housing. Spring Lake MHC is a heavy value add opportunity that consists of 195 active MH Lots with 71 tenant owned homes (TOH), 4 rented park owned homes (POH), and 120 vacant lots. The park is a year-round, all-ages community that’s serviced by public water and sewer billed directly to tenants. Electricity is also billed directly to tenants. Trash is serviced by curbside bins, paid for by the park and included in rent. The 4 park owned homes are 2021 single-wides. The roads are paved and in average to below average shape. According to current setback rules in Spring Lake, NC, the maximum length of home you can infill vacant lots with is 55 feet. We are asking that investors submit offers by the call for offer date of May 25, 2022. We will not be proving any pricing guidance.

Exclusively Listed By

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