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Listed by Century 21 Triangle Group
$660,000
Est. payment /mo
9 SqFt
UPDATED:
Key Details
Property Type Mobile Home, Commercial
Sub Type Mobile Home Park
Listing Status Active
Purchase Type For Sale
Square Footage 9 sqft
Price per Sqft $73,333
MLS Listing ID 10185628
HOA Y/N No
Year Built 1997
Annual Tax Amount $1,530
Lot Size 9.470 Acres
Acres 9.47
Lot Dimensions 412,513.2
Property Sub-Type Mobile Home Park
Source Doorify MLS
Land Area 9
Property Description
WILD FOREST MOBILE HOME PARK 100% Occupied, $90,000+ Annual Rental Income,9 Park-Owned Homes, Approx. 9 Acres Rare opportunity to acquire a stabilized, fully occupied residential investment property offering immediate cash flow, an established operating history and identifiable opportunities for future NOI growth. Wild Forest Mobile Home Park consists of 9 park-owned rental homes situated on approximately 9 acres, providing an investor with ownership of both the underlying real estate and the income-producing homes. INVESTMENT HIGHLIGHTS 100% Occupied $90,000+ in Annual Rental Income 9 Park-Owned Homes Approximately 9 Acres Established rental and operating history Individually metered water and electricity Current rents include sewage, lawn service and trash service Existing tenants provide immediate income upon acquisition Combination of land ownership and rental-home ownership Potential opportunities for expense recovery, rent optimization and NOI growth STABILIZED INCOME WITH ADDITIONAL UPSIDE Wild Forest Mobile Home Park is currently 100% occupied, allowing a new owner to acquire an established rental operation with income already in place. Current annual rental income exceeds $90,000, providing a strong existing revenue base. Importantly, current rental rates include sewage, lawn service and trash service. This provides a future owner with potential opportunities to evaluate utility and service reimbursements, separately billed resident services, or corresponding rent adjustments as leases renew and market conditions permit. These potential expense-recovery strategies may provide an opportunity to reduce owner-paid operating expenses and increase Net Operating Income without relying solely on additional occupancy. LAND + HOMES + CASH FLOW The offering includes approximately 9 acres of land and all 9 rental homes, giving the investor ownership of both the underlying real estate and the income-producing units. Water and electricity are individually metered, while the property utilizes a central septic system. ESTABLISHED OPERATING HISTORY Current ownership acquired the property in 2019 and has operated it as a residential rental investment since acquisition. The property has benefited from ongoing maintenance, turnover renovations and improvements designed to maintain the homes, support occupancy and position the property for continued rental performance. VALUE-ADD OPPORTUNITY For an investor seeking both current cash flow and future upside, Wild Forest Mobile Home Park offers several potential avenues for NOI growth: Evaluate current rents relative to market rates Implement service or expense reimbursements where appropriate Evaluate tenant-paid or separately billed trash and lawn services Recover a portion of owner-paid sewage/septic-related costs where appropriate Continue improving operational efficiencies Capture future rent growth as leases renew The property therefore offers an attractive combination of stabilized occupancy today and potential operational upside for the next owner. Financial information, current rent roll and additional property information are available to qualified buyers. Contact the listing broker for pricing, financial information and additional details.
Location
State NC
County Harnett
Area 9.47
Interior
Fireplace No
Exterior
Exterior Feature None
Garage No
Building
New Construction No
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Allen Faircloth
Owner/Realtor® | License ID: 359648
Owner/Realtor® License ID: 359648