Green Mountain MHC | 2333 Howard Arnett Rd
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Green Mountain MHC 2333 Howard Arnett Rd
26 Unit Mobile Home Park £556,864 (£21,418/Unit) 7.54% Net Initial Yield Lenoir, NC 28645
Investment Highlights
- Consistent cashflow from Lot Rent homes with minimal maintenance and management
- Close proximity to Blowing Rock, Hickory and Lenoir Downtowns
- Opportunity for development of up to 65 lots just outside of the desirable Appalachian Mountains
- Asset elevation contours allow for large, desirable lots
Executive Summary
Marcus & Millichap is pleased to present Green Mountain MHC. Located in the beautiful Appalachian Mountains, Green Mountain MHC provides an investor the opportunity to continue to increase rental rates by 40% as well as expand the number of pads. Growth within the market is being supported by its’ proximity to Hickory, a diverse and growing economy just south of Lenoir.
Comprised of 26 pads that are all lot rent spaces, the asset also includes one stick-built home and an on-site apartment. There is a tremendous opportunity to develop the rest of this approved asset and take advantage of a growing market. The park is serviced by sub-metered city water and septic tanks. Development of this asset will allow for Northwest views of the mountain premier lots within the Hickory-Lenoir Markets.
Comprised of 26 pads that are all lot rent spaces, the asset also includes one stick-built home and an on-site apartment. There is a tremendous opportunity to develop the rest of this approved asset and take advantage of a growing market. The park is serviced by sub-metered city water and septic tanks. Development of this asset will allow for Northwest views of the mountain premier lots within the Hickory-Lenoir Markets.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | £556,864 | Building Class | C |
| Price Per Unit | £21,418 | Lot Size | 8.00 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| Net Initial Yield | 7.54% | Average Occupancy | 73% |
| No. Units | 26 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1976 |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Price | £556,864 |
| Price Per Unit | £21,418 |
| Sale Type | Investment |
| Net Initial Yield | 7.54% |
| No. Units | 26 |
| Property Type | Residential |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 8.00 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 73% |
| Number of Floors | 1 |
| Year Built | 1976 |
| Opportunity Zone |
Yes |
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PROPERTY TAXES
| Parcel Number | 09158-1-17 | Improvements Assessment | £99,773 |
| Land Assessment | £45,480 | Total Assessment | £145,253 |
PROPERTY TAXES
Parcel Number
09158-1-17
Land Assessment
£45,480
Improvements Assessment
£99,773
Total Assessment
£145,253
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Green Mountain MHC | 2333 Howard Arnett Rd
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