Briar Creek Mobile Home Park, Value Add Opportunity !!!

Multi-Family for Sale
Catylist Listing ID: 30640928
Property Subtypes: Duplex/Fourplex, Mobile Home Park
Number of Units: 26 Units
Building Size (RSF): 1,680 SF
Gross Building Area: 6,720 SF
Gross Land Area: 8.54 Acres
Sale Price: $1,095,000
Unit Price: $42,115.38 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Briar Creek Park
Sale Terms: Cash to Seller
Cap Rate: 10.19%
Last Updated: 9/10/2021

Overview / Comments

INVESTORS!!! Opportunity to purchase an Mobile Home Park with eight duplex units located in an opportunity zone. Great value added potential as the Park has two vacant pads and the offering includes an adjacent 1.46 +/- acre parcel. Park currently contains four duplex buildings and eighteen mobile home units all owned by the Seller. Offering contains three parcels of land. Offering Memorandum showing Rent Roll and Financials is available with a fully executed confidentiality agreement.

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Additional Details

Nearest MSA: Jacksonville
County: Onslow
Taxing Authority: Onslow County
Tax ID/APN: 048695, 001059, 051873
Zoning: R-15 & RA
Percent Occupied: 90%
Property Located Between: NC Hwy 53 and Blue Creek Rd.
Highway Access: Andrea Ave. to Gould Rd. To Highway 53
Airports: OAJ Jacksonville
Site Description: Suburban park like setting with surrounding woods and rolling hills on the Southwest side of Jacksonville, with convenient access to NC Highways 53, 258 and 24. Park consists of four duplexes and eighteen mobile homes with vacant spots for two additional mobile home units. Additional vacant parcel of approximately 1.46 +/- acres is located adjacent to units. 128-136.
Area Description: Rural to suburban setting located near the Walmart Super center and Lowe's Home Improvement stores. Convenient access to downtown Jacksonville, the entrance into the Marine Corps New River Air station and US 17. The area is poised to experience a huge influx of construction related services and personnel due to the Navy's $1.7 billion in Hurricane Florence-related new major military construction (MILCON) at Camp Lejeune, Marine Corps Air Station (MCAS) New River and MCAS Cherry Point, NC.
Parking Type: Surface
Zoning Description: R-15 The purpose of this district is to stabilize established and planned single-family residential neighborhoods by providing a place for medium density stick-built and modular homes. RA -The purpose of this district is to maintain a rural development pattern where low density single-family, multi-family, modular, on frame modular and manufactured homes are intermingled with agricultural uses. This district is also designed to protect rural areas from the intrusion of non-agricultural land uses that could create a nuisance, detract from the quality of life, and/or present a danger to the natural environment.
Water Service: Municipal
Sewer Type: Septic
Easements: Ingress/Egress, Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,322 20,604 55,974
Median Age: 27.34 26.73 28.29
Households: 487 6,340 19,371
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