Myers Parks 1 MHP | 2981 Price Rd
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Myers Parks 1 MHP 2981 Price Rd
24 Unit Mobile Home Park $988,380 CAD ($41,183 CAD/Unit) 4.43% Cap Rate Eden, NC 27288
Investment Highlights
- Public Water
- Opportunity to infill 5 vacant POH, 2 vacant SFH, and 2 vacant MH lots
- Significantly Below Market Rents
Executive Summary
The Esterson MHC Team is pleased to present this 24-unit manufactured housing community, Myers Parks 1 MHP, a value-add investment opportunity with significant upside.
Eden, NC is experiencing steady population growth and is strategically located with convenient access to major highways, making it easy to reach nearby cities like Greensboro, Winston- Salem, and Danville, Virginia. Eden’s economy is supported by a diverse mix of industries, including manufacturing, healthcare, and retail. Also known for its scenic beauty, Eden attracts families, young professionals, and retirees alike. With median 3 bdr apartment rents of roughly $1,000 in Eden, the need for affordable housing is only growing stronger.
Myers Parks 1 MHP is 24 total units, consisting of 1 tenant owned mobile home (TOH), 12 rented park owned mobile homes (POH), 1 rented single-family home (SFH), 2 vacant SFH, 6 vacant POH, and 2 vacant MH lots. There is also a small garage on site used for storage that is not capitalized. The average MH lot rental rate is $340 and the average MH home rent above lot rent is $171. The SFH rents for $400 per month. All rents are significantly below market.
The park owned homes are older models and in average condition, but some of the vacant ones need work to be rented. In addition to the units mentioned, the seller owns a mobile home located a couple miles from the park, which a buyer could purchase and use to infill one of the vacant lots. It is a 3 bd/2ba 1987 Oakwood. There is also 1 acre of vacant land that could potentially be used, although no expansion is currently approved.
The park is serviced by public water, a septic system, and dumpster for trash. Water, sewer, and trash are all paid for by the park and included in rent. Electricity is paid by the tenants and billed directly to them. The roads are gravel and in average shape. The park is NOT in a flood zone and is NOT in an opportunity zone.
This value-add investment is being offered at a price of $695,000. All offers must include price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience.
Eden, NC is experiencing steady population growth and is strategically located with convenient access to major highways, making it easy to reach nearby cities like Greensboro, Winston- Salem, and Danville, Virginia. Eden’s economy is supported by a diverse mix of industries, including manufacturing, healthcare, and retail. Also known for its scenic beauty, Eden attracts families, young professionals, and retirees alike. With median 3 bdr apartment rents of roughly $1,000 in Eden, the need for affordable housing is only growing stronger.
Myers Parks 1 MHP is 24 total units, consisting of 1 tenant owned mobile home (TOH), 12 rented park owned mobile homes (POH), 1 rented single-family home (SFH), 2 vacant SFH, 6 vacant POH, and 2 vacant MH lots. There is also a small garage on site used for storage that is not capitalized. The average MH lot rental rate is $340 and the average MH home rent above lot rent is $171. The SFH rents for $400 per month. All rents are significantly below market.
The park owned homes are older models and in average condition, but some of the vacant ones need work to be rented. In addition to the units mentioned, the seller owns a mobile home located a couple miles from the park, which a buyer could purchase and use to infill one of the vacant lots. It is a 3 bd/2ba 1987 Oakwood. There is also 1 acre of vacant land that could potentially be used, although no expansion is currently approved.
The park is serviced by public water, a septic system, and dumpster for trash. Water, sewer, and trash are all paid for by the park and included in rent. Electricity is paid by the tenants and billed directly to them. The roads are gravel and in average shape. The park is NOT in a flood zone and is NOT in an opportunity zone.
This value-add investment is being offered at a price of $695,000. All offers must include price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience.
Property Facts Under Contract
| Price | $988,380 CAD | Apartment Style | Single Family Home |
| Price Per Unit | $41,183 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.83 AC |
| Cap Rate | 4.43% | Building Size | 24,000 SF |
| No. Units | 24 | Average Occupancy | 58% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1980 |
| Price | $988,380 CAD |
| Price Per Unit | $41,183 CAD |
| Sale Type | Investment |
| Cap Rate | 4.43% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 2.83 AC |
| Building Size | 24,000 SF |
| Average Occupancy | 58% |
| No. Stories | 1 |
| Year Built | 1980 |
1 of 1
zoning
| Zoning Code | RES AG COU |
| RES AG COU |
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Myers Parks 1 MHP | 2981 Price Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.