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2689 Timerill Drive, Morganton, NC
$1,950,000 | MLS #4092912
This 52-pad mobile home park offers a density that is difficult to find either on or off the market in Western NC! The park contains mostly older singlewides, with 14 tenant-owned units, 11 park-owned units, 17 vacant park-owned units, 10 vacant pads.
The park features a gently sloping topography that offers pleasant views from the knoll top in the center of the property. Mobile home park pads and units are served by a combination of individual and shared septics. The landlord covers trash/waste service, as well as city water/sewer billing. The opportunity exists to pass through additional utility expenses to tenants.
This property is zoned R-3 in Burke County, and offers a convenient location only 7 miles to downtown Morganton and 9 miles to downtown Lenoir, with high visibility and easy access off Hwy 64.
All considered, this park offers an excellent opportunity for a value-add investor to create significant long-term cash flow with a good park density in a growing region that will see continued housing demand.
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Contact Collin O’Berry of Altamont Property Group for more information. This property is listed in marketing partnership with Marc Luety of Luety Group.
Collin O’Berry
Altamont Property Group
collinoberry@kw.com
828-782-5582
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Marc Luety
Luety Group
marc@luetygroup.com
520-850-4000
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