1425 Farlow Rd 4 Unit Mobile Home Park $400,000 ($100,000/Unit) Raleigh, NC 27603

Please read the entire description carefully. Detailed pricing information is at the bottom of the description. 1) Four rental properties in Raleigh, NC (mobile homes on independent lots with no HOA restrictions) on sale for a total of 400k (At an average price of 100k each). 2) Owner financing is available. 3) All four properties are right next to each other on the same street in quiet Southern Acres neighborhood, 7 miles (15 min) from Downtown Raleigh. 4) These homes are rented to long term tenants that are responsible and decent people who are punctual with their rents. 5) Location of this area in Raleigh is very peaceful and surrounded by nature, yet close to shopping(Costco, Walmart, Food Lion) and highways (I-540 and I-440). 6) Each home comes with its own 100 feet wide X 200 feet long lot (approximately half acre each)that has its own independent septic system on site. 7) There are two wells to provide drinking water to these 4 properties. 8) Lots of this size for this price with independent utilities and no HOA or city taxes are not available anymore in the city of Raleigh. 9) Renters take care of their own utilities including lawn care. 10)Septic tanks are serviced regularly, I have maintenance records to provide for the new roof work and servicing related to septic tanks. 11) Landlord’s expenses are garbage bill and electricity to run the wells. Low county taxes(no city taxes). 12) Picture showing the breakdown of rents and expenses is attached. Approx. Gross Yield: 11.7%. Renters take care of most of any small repairs for keeping lower rents. Renters are skilled men or working in construction and took care of even major upgrades like replacing flooring in the house and upgrading decks by themselves. All major repairs and maintenance has been completed recently so there is minimal maintenance required moving forward. 13) Google map addresses of these properties are 1425 Farlow road, 1429 Farlow road, 1501 Farlow road, and 1507 Farlow road in the city of Raleigh(Wake county). 14) This is a good 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. 15) This is a good opportunity to own a mobile home park of your own inside the city limits of Raleigh with a total area of approximately 2 acres of land between 4 properties. 16) Preference will be given to someone that wants to purchase all of these properties together. 17) Pricing information: “1425 Farlow road home is priced at 125k, 1429 Farlow road home is priced at 85k(well on site), 1501 Farlow road home is priced at 90k, and 1507 Farlow road home is priced at 100k(well on site). On average these four properties combined are priced at 100k each(lots are included) for a total price of 400k. 18) I will pay 2.5% commission to your realtor. In case if there is no real estate agent involved, I will pass on that credit to the buyer as a discount which will lower the total price to 390k. 19) If you are interested send a message, I will respond to all messages within 24 hours. 20) I will take care of preparing the purchase contracts for us to sign. 1k will be earnest money deposit per property. You will need a closing attorney/real estate for preparing the closing statements and for registering the deeds with the county. Also, closing attorney will get title insurances. 21) Earnest money will be deposited will be with your closing attorney, you will get the credit for it at closing. 22) My real estate attorney will assist your closing attorney with transferring current rental leases of existing tenants to your name. All current tenants are on month to month leases, and they will continue to rent from the new buyer. 23) PLEASE DO NOT DISTURB THE TENANTS. You are welcome to drive on this street to view these properties in person. 24) No rental or lease to own options being considered at this time. 25) Selling in as-is condition. 3 homes are older(manufactured in 1966), and one newer(1997 built.) Long term tenants in place that want to continue renting from the new buyers. ********NEW UPDATE - Seller financing is available for someone that can buy all four properties with 50% down payment, the remaining 50% can paid in equal monthly installments at 6% interest rate. Term can be up to 15 years. We will use the standard seller financing addendum (2A5-T form) along with the purchase contract to mention the financing terms in the 2A5-T form. All four tenants want to continue renting from the new owners. On average, current tenants have been living here for over 10 years, and they love the location of this area and take good care of the place.*****