295 Lakeside Ln Tarboro, NC 27886
- Mobile home & RV parks
- 57.42 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 295 Lakeside Ln
- Lot size
- 57.42 lot acres
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents a portfolio of two mobile home parks totaling 253 units situated in Tarboro, North Carolina, within the Rocky Mount MSA. The portfolio comprises 78 tenant-owned homes (averaging $391/month rent), 95 park-owned homes (averaging $826/month rent), 8 vacant park-owned homes, 2 office units, and 70 vacant lots, offering significant infill potential. Currently boasting a 69.2% occupancy rate and a Net Operating Income (NOI) of $514,036, this stabilized, cash-flowing asset presents a compelling return. The parks benefit from mostly public utilities (water, sewer, trash) with direct billing to tenants, minimizing management overhead. While one park features privately maintained paved roads, the other utilizes public roads. Both parks are located in a 500-year flood zone and opportunity zones. The strong demand for affordable housing in this high-growth market, coupled with below-market rents, positions this portfolio for substantial appreciation. Priced at $13,500,000, this is an ideal opportunity for investors seeking to scale their portfolios or enter the thriving Carolina market. The 57.42-acre property offers a unique blend of immediate cash flow and long-term value-add potential through infill and rent increases. The property is comprised of two locations: 295 Lakeside Ln, Tarboro, NC 27886 and 395 Bonnie Ln, Princeville, NC 27886.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tarboro
- County
- Edgecombe
- State
- North Carolina
- Longitude
- -77.5184
- Latitude
- 35.8707
