314 Archie Whitesides Rd Gastonia, NC 28052
- Mobile home & RV parks
Current Use by Public Records
- Mobile home & RV parks
Property Details for 314 Archie Whitesides Rd
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents Mountain Village Mobile Home Park, a 46-unit mobile home park situated on nearly 20 acres in Gastonia, North Carolina. Located just 20 miles west of Charlotte, this park benefits from Gastonia's strong population growth and convenient access to I-85. The park currently features 40 tenant-owned homes, 1 rent-to-own home, 3 vacant park-owned homes, and 2 vacant lots. While currently utilizing a well and septic system, the park is set up for city water and sewer, offering cost-saving flexibility for the new owner. Lot rents are being increased to a market value of $550 per month. The predominantly tenant-owned homes minimize upkeep and expenses, resulting in a low-maintenance investment. This turnkey operation boasts impressive cash flow and significant upside potential through infilling the vacant lots. The asking price is $2,900,000, reflecting a 6.55% cap rate. This property offers a compelling return on investment within the thriving Charlotte MSA, characterized by strong occupancy, demand, and rental rates.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gastonia
- County
- Gaston
- State
- North Carolina
- Longitude
- -81.2567
- Latitude
- 35.2502
