Investment Overview

Marcus & Millichap is pleased to present Ellerbe MHP, an 11-pad manufactured housing community located in Ellerbe, North Carolina. The park is 100% tenant-owned homes (TOH), eliminating owner home maintenance liability and significantly reducing capital exposure relative to park-owned home strategies. The property features a tenant-friendly utility structure, with electricity billed directly to residents and municipal water and sewer service. This configuration removes utility expense volatility from the owner’s operating statement, eliminates private well and septic capital risk, and produces one of the cleanest operating profiles available in small-park MHP product. Ellerbe MHP combines stable in-place income from existing lot rents with pad expansion upside on available land within the park footprint, providing a path for a new owner to grow NOI through incremental pad development over time. The result is a low-overhead, low-touch acquisition with both immediate cash flow and a defined runway for value creation. Ellerbe sits in Richmond County, North Carolina, approximately nine miles north of Rockingham and within easy reach of the broader Sandhills region, including Pinehurst, Southern Pines, and Fayetteville. The county economy is supported by a diversified manufacturing base, including textiles and apparel, wood moldings, furniture, plastic closures, poultry processing, and steel fabrication, alongside agriculture and regional retail. Persistent affordability pressure across rural and suburban North Carolina continues to drive sustained renter demand for manufactured housing communities like Ellerbe MHP.