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159 Hwy 172
Hubert, NC 28539 ·

14 Spaces · Multifamily For Sale

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Multifamily Property For Sale

Price N/A Property Use Type Investment
No. Spaces 14 Cap Rate 18%
Property Type Multifamily Lot Size 1.14 AC
Property Sub-type Mobile Home/RV Community
Listing ID: 17519469 Date Created: 02/07/2012 Last Updated: 08/17/2013

Description

..............................2010..................2011.............2012 Projected
Gross Income.......76,515.00........81,900.00.........90,175.00
Trash......................2,400.00..........2,400.00...........2,400.00
Water......................2,451.73..........2,497.98...........2,500.00
Insurance (year).....1,052.48..........1,064.13...........1,088.60
Electric...................1,279.85..........1,295.63............1,300.00
Taxes.....................1,041.70.............734.30...............734.30
Expens.(repairs)....3,991.44...........2,287.48............3,800.00
Net Income..........64,297.80.........71,620.48..........78,352.10
Cap Rate(net/gross)......possible owner financing.................
Price $500,000...........13/15............14/16...............16/18
Price $450,000(cash).14/17............16/18...............17/20

This 14 space mobile home park, presently with only 13 units, County inspected and certified, all septic systems have been updated and grease traps installed, all units are park owned and have been renovated, maintenance building with spare items and materials and a constant list of waiting tenants. Our expert renovations and modifications, from owning over 30 parks, provides maintenance repairs much less than our competition while producing some of the most desired rentals in our area. Laundromat income usually covers water & electric costs but not included in income amount listed.

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159 Hwy 172, Hubert, NC 28539 (Onslow County)

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