1425 Farlow Rd 4 Unit Mobile Home Park $500,000 ($125,000/Unit) Raleigh, NC 27603

Please read the entire description carefully. Detailed pricing information is at the bottom of the description. Four rental properties (mobile homes on independent lots with no HOA restrictions) on sale for a total of 500k (at an average price of 125k each). All homes are right next to each other on the same street. On average each property(with the lot included) is priced at 125k each. These homes are currently rented to long term tenants that are responsible and decent people. Location of this area in Raleigh is very peaceful and surrounded by nature. Each home comes with its own 100' X 200' lot (approximately half acre each)that has its own independent septic system on site. There are two wells to provide drinking water to these 4 homes. Lots of this size for this price with independent utilities are not available anymore in Raleigh. Renters take care of their own utilities. 3 out of these 4 homes are older manufactured homes and are functional. These homes have metal roof that have been seal coated on last summer(pictures taken at the time of seal coating are attached) for easier maintenance in the future. House at 1425 Farlow road is a bigger one compared to the other three homes with 2 bed rooms and 2 full baths close to about 1000 square feet in area, with a new shingles roof installed in the summer of 2025 so there won't be any roof maintenance needed for another 20 to 30 years. This home is manufactured in 1997. Homes around this size in the same neighborhood are renting for a much higher price in this area. Septic tanks are serviced regularly and I have maintenance receipts to provide for roof work and septic tanks servicing from the last two years. All current tenants are punctual with their rents. Maintenance expenses are very minimal. Landlord takes care of garbage bill and electricity to run the wells. All of the current renters living in these homes want to continue to rent. On average the current tenants have been living in these homes for over ten years. Total current monthly rental income from these four mobile homes is $3700(($950, $950, $950, and $850). Low county taxes(no city taxes). Picture showing rent and expenses breakdown is attached. Google map address of these properties are 1425 Farlow road, 1429 Farlow road, 1501 Farlow road, and 1507 Farlow road in the city of Raleigh(Wake county). This is a great investment opportunity for someone that wants to leave these properties as is for cash flow or add new mobile homes or even build a new modular/stick built homes in the future since all utilities are already established. This is an opportunity to own a mobile home park of your own inside the city limits of Raleigh. Approximately 2 acres of total land between 4 properties. Preference will be given to someone that wants to purchase all of these four properties as a package deal. These properties are in the same residential neighborhood of Southern Acres which is a quiet, suburban setting with easy access to I-540, RDU, and downtown Raleigh. 1425 Farlow road home is priced at 150k, 1429 Farlow road priced at 100k(well on site), 1501 Farlow road priced at 115k, and 1507 Farlow road priced at 135k(well on site). On average these four properties combined are priced at 125k each(lots included). All lots have their own independent septic system. ***Ask for owner financing option. For someone that doesn’t need financing assistance, I can lower the price by another 10k on each property that you can use towards any future upgrades of these homes(total of 40k discount for buying all four properties as a package deal). Also, I will pay 2% commission if you have a realtor. In case if you are not using a real estate agent, I will pass on that 2% credit(10k) as an additional discount. Along with your full name or business name, we will need your real estate attorney’s name and contact information when ready to sign the contract. Earnest deposit is 1k for each property that will be paid to your attorney or my attorney that is in charge of preparing the closing statements. Closing attorney will take care of transferring current rental leases to the new buyer’s name. If you are interested please leave a message. I will respond to any message within 24 hours. Please do not disturb the tenants. You are welcome to drive on this street to view these properties in person.