65 MILLS GAP RD ASHEVILLE NC 28803-9571 Asheville, NC 28803

Listing office JDS Real Estate Services, Inc. j***@jdsreservices.com

Listing date Jul 9, 2026

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Investment Insights

Based on property information with market context.

The Asheville MHP Portfolio offers the acquisition of two manufactured housing communities operated as a single investment: Mills Gap MHP in Arden and Casteel Park MHP in Asheville. Combined, the portfolio totals 26 units and is 96% occupied, with Mills Gap fully leased and Casteel Park operating with one vacancy. The offering is positioned for continued performance supported by planned improvements, including a studio conversion, and an additional permitted pad at Mills Gap.

Both communities are located in South Buncombe County and are approximately 2.4 miles apart, supporting streamlined management. The properties are described as being in infill locations near major employment centers, Asheville Regional Airport, Interstate 26, and Biltmore Park. The portfolio is offered together at an 8.80% in-place cap rate, with a projected 9.62% Year 1 cap rate, and seller financing is available for qualified buyers.

Key Highlights

• Asheville MHP portfolio includes 2 manufactured housing communities in the Asheville MSA totaling 26 units
• 96% occupied overall; Mills Gap MHP fully leased and Casteel Park MHP has only 1 vacancy
• Properties are 2.4 miles apart for streamlined management within a single investment

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FAQs

What type of property is this?

Mobile home & RV park - Portfolio includes two manufactured housing communities totaling 26 units, 96% occupied, with seller-financing options available.

Where is this mobile home & rv park located?

The property is located at 65 MILLS GAP RD ASHEVILLE NC 28803-9571 Asheville, NC.

What is the asking price?

The asking price for this property is $3,540,000.

What are key features of this property?

This property features: Asheville MHP portfolio includes 2 manufactured housing communities in the Asheville MSA totaling 26 units; 96% occupied overall; Mills Gap MHP fully leased and Casteel Park MHP has only 1 vacancy; Properties are 2.4 miles apart for streamlined management within a single investment