Log In/Sign Up
Your email has been sent.
Ellerbe MHP 113 Henderson dr 11 Unit Mobile Home Park $330,000 ($30,000/Unit) 10.02% Cap Rate Ellerbe, NC 28338
Investment Highlights
- 100% Tenant-Owned: All 11 pads are tenant-owned homes (TOH), eliminating owner home maintenance liability and reducing capital exposure.
- City Water & Sewer: Connected to municipal water and sewer, eliminating private well and septic maintenance and capital risk.
- Sandhills Regional Access: Positioned near Rockingham and within easy reach of the Pinehurst, Southern Pines, and Fayetteville employment markets.
- Tenant-Paid Electricity: Electricity is billed directly to residents, removing utility expense volatility from the owner’s operating statement.
- Stable Lot Rent Income: Lot rents historically deliver lower turnover, stronger tenant retention, and predictable cash flow versus traditional multifa
Executive Summary
Marcus & Millichap is pleased to present Ellerbe MHP, an 11-pad manufactured housing community located in Ellerbe, North Carolina. The park is 100% tenant-owned homes (TOH), eliminating owner home maintenance liability and significantly reducing capital exposure relative to park-owned home strategies.
The property features a tenant-friendly utility structure, with electricity billed directly to residents and municipal water and sewer service. This configuration removes utility expense volatility from the owner’s operating statement, eliminates private well and septic capital risk, and produces one of the cleanest operating profiles available in small-park MHP product.
Ellerbe MHP combines stable in-place income from existing lot rents with pad expansion upside on available land within the park footprint, providing a path for a new owner to grow NOI through incremental pad development over time. The result is a low-overhead, low-touch acquisition with both immediate cash flow and a defined runway for value creation.
Ellerbe sits in Richmond County, North Carolina, approximately nine miles north of Rockingham and within easy reach of the broader Sandhills region, including Pinehurst, Southern Pines, and Fayetteville. The county economy is supported by a diversified manufacturing base, including textiles and apparel, wood moldings, furniture, plastic closures, poultry processing, and steel fabrication, alongside agriculture and regional retail. Persistent affordability pressure across rural and suburban North Carolina continues to drive sustained renter demand for manufactured housing communities like Ellerbe MHP.
The property features a tenant-friendly utility structure, with electricity billed directly to residents and municipal water and sewer service. This configuration removes utility expense volatility from the owner’s operating statement, eliminates private well and septic capital risk, and produces one of the cleanest operating profiles available in small-park MHP product.
Ellerbe MHP combines stable in-place income from existing lot rents with pad expansion upside on available land within the park footprint, providing a path for a new owner to grow NOI through incremental pad development over time. The result is a low-overhead, low-touch acquisition with both immediate cash flow and a defined runway for value creation.
Ellerbe sits in Richmond County, North Carolina, approximately nine miles north of Rockingham and within easy reach of the broader Sandhills region, including Pinehurst, Southern Pines, and Fayetteville. The county economy is supported by a diversified manufacturing base, including textiles and apparel, wood moldings, furniture, plastic closures, poultry processing, and steel fabrication, alongside agriculture and regional retail. Persistent affordability pressure across rural and suburban North Carolina continues to drive sustained renter demand for manufactured housing communities like Ellerbe MHP.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $330,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $30,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.84 AC |
| Cap Rate | 10.02% | Building Size | 80,150 SF |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1980 |
| Zoning | R - Residential | ||
| Price | $330,000 |
| Price Per Unit | $30,000 |
| Sale Type | Investment |
| Cap Rate | 10.02% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 1.84 AC |
| Building Size | 80,150 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Zoning | R - Residential |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 747817-10-0996 | Improvements Assessment | $22,400 |
| Land Assessment | $30,000 | Total Assessment | $52,400 |
Property Taxes
Parcel Number
747817-10-0996
Land Assessment
$30,000
Improvements Assessment
$22,400
Total Assessment
$52,400
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
