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.
Contact Collin O’Berry of Altamont Property Group for more information. This property is listed in marketing partnership with Marc Luety of Luety Group.
Altamont Property Group