20 Beds
14 Baths
7,756 SqFt
20 Beds
14 Baths
7,756 SqFt
Key Details
Property Type Multi-Family
Sub Type Eightplex+
Listing Status Active
Purchase Type For Sale
Square Footage 7,756 sqft
Price per Sqft $205
MLS Listing ID 4367822
Bedrooms 20
Full Baths 14
Abv Grd Liv Area 7,756
Year Built 1984
Lot Size 3.940 Acres
Acres 3.94
Property Sub-Type Eightplex+
Property Description
The park is made up of two parcels 06-015-039 and 06-015-038. All nine mobile homes are park owned. Renters provide their own furnishings including washer & dryer, refrigerators are park owned. The property also consists of four storage buildings, and an insulated pump house that affords extra storage. A shared 150' deep well serves the whole park, pump was just replaced in 2024. Each unit has its own septic tank. The tenants are responsible for mowing their own yards. Community has two street lights.
The current owners have enjoyed having this property, and lovingly maintained it including extra plantings. They have repainted the units every five years, and applied Cool Seal to the roofs every three years. Owners have a list of reliable vendors that they will share.
This park consistently operates at nearly 100% rented, with an established history of long term renters (average stay of over 5 years), and very quick turnover. At list price it has a Cap Rate of 7.5%. The rents are under market value, so there is potential for an even greater return. *PLEASE DO NOT DISTURB TENANTS.*
Location
State NC
County Union
Building/Complex Name Cardinal Park
Zoning AF8
Interior
Heating Central, Electric, Heat Pump
Cooling Ceiling Fan(s), Central Air, Window Unit(s)
Appliance Electric Range, Electric Water Heater, Refrigerator
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Street Surface Gravel,Paved
Garage false
Building
Lot Description Corner Lot, Wooded, Views
Dwelling Type Manufactured
Foundation None
Sewer Septic Installed
Water Shared Well
Structure Type Aluminum,Vinyl
New Construction false
Schools
Elementary Schools Western Union
Middle Schools Parkwood
High Schools Parkwood
Others
Pets Allowed Yes
Senior Community false
Special Listing Condition None
Schools and Properties Nearby
