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371 Riverview Dr 15 Unit Mobile Home Park $1,490,000 ($99,333/Unit) 8.86% Cap Rate Waynesville, NC 28785
Executive Summary
PARTIAL OWNER FINANCE POSSIBLE - Excellent investment opportunity less than 30 minutes from Asheville and sited on 8 +/- acres. Currently, this 5-parcel property produces pad rental income for 5 pads (Lot Rent Only), 9 park-owned mobile homes that are all being sold Rent to Own, one site-built 3-bedroom, 1-bath split-level home with a 1 BR 1 BA studio on the lower level. The park has a solid rental history and occupancy. All units are fully rented. This investment property provides stable income with remarkable upside capacity. Average Monthly Income is $11,900 with only a few hundred dollars a month in expenses, Plus Taxes & Insurance.
Please do not disturb tenants.
Please do not disturb tenants.
Property Facts
| Price | $1,490,000 | Building Class | C |
| Price Per Unit | $99,333 | Lot Size | 8.00 AC |
| Sale Type | Investment | Building Size | 1,200 SF |
| Cap Rate | 8.86% | Average Occupancy | 100% |
| Sale Condition | Business Value Included | No. Stories | 1 |
| No. Units | 15 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 10/1,000 SF |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | C07 | ||
| Price | $1,490,000 |
| Price Per Unit | $99,333 |
| Sale Type | Investment |
| Cap Rate | 8.86% |
| Sale Condition | Business Value Included |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 8.00 AC |
| Building Size | 1,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1980 |
| Parking Ratio | 10/1,000 SF |
| Zoning | C07 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | 750 |
| 3+1 | 1 | - | 2,250 |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $190,900 | |
| Land Assessment | $137,800 | Total Assessment | $328,700 |
Property Taxes
Parcel Numbers
Land Assessment
$137,800
Improvements Assessment
$190,900
Total Assessment
$328,700
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Presented by
Nader Ashchi
371 Riverview Dr
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