North Carolina 2 Park Portfolio

North Carolina

Property overview

The Town of Angier boasts an excellent quality of life as a progressive and friendly community that offers small-town living, plus all of the benefits of being in close proximity to metropolitan areas of Raleigh, Durham, Chapel Hill and Research Triangle Part (RTP). A great location, affordable land and outstanding workforce make Angier one of the best places in the region to begin or expand a business or industry.

MHRE Inc. is pleased to offer the Babbitt North Carolina Portfolio, which consists of two neighboring parks, Brentwood MHP and Crepe Myrtle.

The parks are situated on +/- 106 acres, with easy access to local schools, parks, and recreational amenities. In the past several years, ownership has purchased 70 homes and filled the parks to 100% occupancy. Crepe Myrtle is a 33 site park and is filled with 4 resident owned homes, 3 rent to own homes, and 25 occupied leased homes. Brentwood is a 111 site park at 100% occupancy with 26 resident owned homes, 5 rent to own homes, and 80 occupied leased homes. Many of the tenants at these parks are long term and have been residents for 10 years plus.

North Carolina 2 Park Portfolio

North Carolina

For detailed information on this property please contact: Dominic Bologna (586) 524-8845.

Property Summary

Total Sites144
Year Constructed1989
Land (Acres) +106
Occupied Sites143
Vacant Sites1
Occupancy99.3%
Average Rent/Site$335
PRIMARY USEMHP
PROPERTY TYPEFamily

OFFERING SUMMARY

Community Price$6,300,000
Community Owned Homes & Notes$3,200,000
Total Investment$9,500,000
Price per Site43,750
Price Occupied per Site44,056

HOME SUMMARY

LEASED HOMES105
LEASED OPTION HOMES8