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3 Dustin Dr
Swannanoa, NC 28778
Forrest Hills Mobile Home Community · Multifamily Property For Sale
·
89,000 SF
PROPERTY FACTS
| No. Units | 89 | Lot Size | 30.34 AC |
| Property Type | Multifamily | Building Size | 89,000 SF |
| Property Subtype | Manufactured Housing/Mobile Home | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1993 |
| Building Class | C | ||
| Zoning | R-3 | ||
| No. Units | 89 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 30.34 AC |
| Building Size | 89,000 SF |
| No. Stories | 1 |
| Year Built | 1993 |
| Zoning | R-3 |
ABOUT 3 DUSTIN DR , SWANNANOA, NC 28778
Capstone Manufactured Housing is pleased to present Forrest Hills Mobile Home Community located 15 minutes east of the city of Asheville, North Carolina. The 89-site mobile home park is 76% occupied and is comprised of lease-option-purchase and park-owned homes. Asheville is the largest city in Western North Carolina and the MSA has shown steady population growth of 2.0% YOY since 2014. The average value of single-family residential real estate in Asheville is $275,000, and as a result the demand for affordable housing continues to rise. Forrest Hills has favorable proximity to I-40, which is the primary route connecting Asheville and Winston-Salem. The park benefits from in place operational efficiencies including a utility recapture program and directly metered electricity. This offering presents an investment opportunity to enter a rapidly growing North Carolina market, increase cash flow by driving rents while benefiting from significant demand for affordable housing.
