For Sale
$695,000
2981 Price Rd Eden, NC 27288
24 Units, Value-Add Opportunity
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 138
Highlights
- 24-unit mobile home park in Eden, NC, priced at $695,000, offering a 5.70% current cap rate and a pro-forma cap rate of 12.30%.
- Currently 58.3% occupied, with a $30,815 NOI and a pro-forma NOI of $66,095.
- Significant upside potential due to below-market rents; average mobile home lot rent is $340, with average home rent above lot rent of $171, and single-family home rent at $400/month.
- Property includes 5.1 acres, a small storage garage, and an additional acre of vacant land.
- Opportunity to increase NOI by infilling 8 vacant lots (6 mobile home, 2 single-family) using a seller-owned mobile home.
Property Details for 2981 Price Rd
- Property type
- Mobile home & RV parks
- Class
- C
- Lot Size (sq. ft)
- 222,156 SF
- Units
- 24
Location Insight
- City
- Eden
- County
- Rockingham
- State
- North Carolina
- Latitude
- 36.5072043
- Longitude
- -79.8339855
Nearby Similar for Sale
FAQs
- What type of property is this?
- Mobile home & RV park - 24 Units, Value-Add Opportunity
- Where is the mobile home & rv park located?
- The property is located at 2981 Price Rd Eden, NC.
- What is the asking price?
- The asking price for this property is $695,000.
- What are key features of this property?
- This property features: 24-unit mobile home park in Eden, NC, priced at $695,000, offering a 5.70% current cap rate and a pro-forma cap rate of 12.30%.; Currently 58.3% occupied, with a $30,815 NOI and a pro-forma NOI of $66,095.; Significant upside potential due to below-market rents; average mobile home lot rent is $340, with average home rent above lot rent of $171, and single-family home rent at $400/month.
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