Mobile Home Park with 8 Mobile Homes $175,000

2125 Riverside Rd, Shelby, NC 28152

$350,000 After Repair Value -
$175,000 Asking Price -
$80,000 Cost of Repairs =
$95,000 Potential Profit

Property Details

Asking Price $175,000

After Repair Value $350,000

Costs of Repairs $80,000

Potential Profit $95,000

Living Area 243936 ft2

Property Type Commercial Property

Bedrooms +7

Bathrooms +7

Half Bathrooms 0

Parking 1

Listed with Agent No

EPI (Estimated Potential Income)

Potential Rental Income $6,400

Yearly Expenses $400

Property Taxes $400

Net Operating Income $5,861

Cap Rate 24.5

Property Description

This mobile home park is approx. 2 miles from Boiling Springs NC. 8 mobile homes and one lot ready for a mobile home to move in. This is a 2 plot property total of 5.6 acres. There is enough room for about 30 mobile homes on the property. This is a great cash flow potential. Each home has it\'s own hook up for city sewer, power and water. There is a working well on the property also. There is a fishing and boating resort Broad River Greenway is about a 1.2 miles down the road. Gardner Web College is about 2 miles away.

Repairs Needed

4 mobile homes are in need of rehab. the other 4 possibly need demolition. There is a clearing at the back of the property where more trailors can be moved on but will need power, sewer and water hook up. If the rest of the trees are removed a total of 30 trailers will fit on this 5.6 acres.

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