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1059 Eller Rd 23 Unit Mobile Home Park $1,140,000 ($49,565/Unit) 8.21% Cap Rate Lexington, NC 27295
INVESTMENT HIGHLIGHTS
- Below market rents
- Attractive investment opportunity
- Month to month leases
EXECUTIVE SUMMARY
23-space mobile home park situated on ±6.93 acres, offering income with meaningful upside by raising the below-market month to month rents currently in place. Lot rents are $280/month while the 5 park-owned homes lease at an average of $775/month. The last rental increase was 2 years ago. Strong history of occupancy and long-term tenants. The property is served by public water (individually metered) and septic. Located just south of Winston-Salem in an established residential setting, the park offers convenient access to major highways, Triad retail and employment centers, supporting stable cash flow and long-term income growth.
1059 Eller Road is ideally located in a thriving area of Lexington, North Carolina, just minutes from downtown shopping, dining, and services. Residents enjoy easy access to I-85 and US-52, making commutes throughout the Piedmont Triad simple and convenient. Surrounded by established neighborhoods, the property offers a desirable, comfortable setting perfect for long-term tenancy
1059 Eller Road is ideally located in a thriving area of Lexington, North Carolina, just minutes from downtown shopping, dining, and services. Residents enjoy easy access to I-85 and US-52, making commutes throughout the Piedmont Triad simple and convenient. Surrounded by established neighborhoods, the property offers a desirable, comfortable setting perfect for long-term tenancy
PROPERTY FACTS
| Price | $1,140,000 | Apartment Style | Garden |
| Price Per Unit | $49,565 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.93 AC |
| Cap Rate | 8.21% | Building Size | 23,715 SF |
| No. Units | 23 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1999 |
| Property Subtype | Manufactured Housing/Mobile Home | Parking Ratio | 0.97/1,000 SF |
| Zoning | RA3 - Residential | ||
| Price | $1,140,000 |
| Price Per Unit | $49,565 |
| Sale Type | Investment |
| Cap Rate | 8.21% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.93 AC |
| Building Size | 23,715 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Parking Ratio | 0.97/1,000 SF |
| Zoning | RA3 - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 23 | - | 950 - 1,100 |
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1059 Eller Rd
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