For Sale
$950,000

67 Ervin Mcneill St Bunnlevel, NC 28323

32-pad mobile home park, 7.22% cap rate

Overview

Added:
Dec 11, 2024
Days on market:
137
This well-established Bunnlevel, NC mobile home park offers a compelling investment opportunity with a 7.22% cap rate and a strong NOI of $67,744. The property encompasses 30.03 acres and features 32 pads, including 22 lot rent spaces, 3 rent-to-own homes, 5 vacant lots, and 2 vendor-purchased-owned homes. The park benefits from low operating costs, with electricity billed directly to tenants and city-provided water and sewer services. This translates to consistent cash flow and significant upside potential through the development of vacant lots or the addition of more vendor-purchased-owned homes. Located in Harnett County, near major cities like Fayetteville and Raleigh, and in close proximity to Fort Bragg, this property benefits from a strategic location within a growing market experiencing increasing demand for affordable housing. The high lot rent composition contributes to low tenant turnover and consistent rental income, further enhancing the investment's stability and long-term growth prospects. The asking price is $950,000. This property presents a rare opportunity to acquire a well-managed, income-producing asset with substantial growth potential in a desirable North Carolina location.

Highlights

  • $950,000 asking price for a 32-pad mobile home park in Bunnlevel, NC.
  • 7.22% cap rate with a $67,744 NOI.
  • 30.03-acre lot with 22 lot rent spaces, 3 rent-to-own homes, 5 vacant lots, and 2 vendor-purchased-owned homes (VPOHs).
  • High lot rent composition provides stable income and low tenant turnover.
  • Upside potential from developing vacant lots with new homes or VPOHs.

Property Details for 67 Ervin Mcneill St

Property type
Mobile home & RV parks
Lot Size (sq. ft)
1,308,107 SF

Location Insight

City
Bunnlevel
County
Harnett
State
North Carolina
Latitude
35.3120021
Longitude
-78.8148427

FAQs

What type of property is this?
Mobile home & RV park - 32-pad mobile home park, 7.22% cap rate
Where is the mobile home & rv park located?
The property is located at 67 Ervin Mcneill St Bunnlevel, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: $950,000 asking price for a 32-pad mobile home park in Bunnlevel, NC.; 7.22% cap rate with a $67,744 NOI.; 30.03-acre lot with 22 lot rent spaces, 3 rent-to-own homes, 5 vacant lots, and 2 vendor-purchased-owned homes (VPOHs).
How can I contact the broker?
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67 Ervin Mcneill St
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