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Classic Auction - Multifamily

Stanley Mobile Home Park

102 Rural Lane, Stanley, NC 28164

ClosedNovember 29th, 2021
This asset was part of the October 28th 2021 sale event, resulting in a successful transaction that closed in just 32 days.

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  • Asset Type
  • Real Estate
  • Property Type
  • Multifamily
  • Land Area
  • 14.20 Acres
  • Occupancy
  • 96.77%
  • Multifamily Type
  • Manufactured Housing
  • Number of Units
  • 34 Units

Stanley Mobile Home Park

Investment Highlights

  • 34-Site manufactured home community positioned ±20 miles from Charlotte, NC (3 unusable lots)
  • Stable, income producing park with high occupancy and low operating expenses
  • Below market lot rents in comparison to other parks in the Charlotte MSA
  • Zoned R-20, Residential District
  • ±33,688 individuals with an average household income of ±$69,983 in 2021 (5-mile radius)
 

Offering Details

CBRE’s Investment Group and RealINSIGHT Marketplace are proud to present the opportunity to purchase Stanley Manufactured Home Park, a ±34-pad community located in Stanley, North Carolina approximately 20 miles northwest of Charlotte. 

The community has 31 active MH lots with 30 tenant owned homes, and 1 vacant park owned home. It is worth mentioning that this park does have 3 lots that are “unusable” because they have been vacant for too long. Therefore, they can’t be used anymore and are not being included in our marketing details. The tenant owned home tenants currently pay an average lot rental rate of $415 per month, which is below current market rent estimated at $525 based on rent comparable surveys. Current occupancy is 96.77%. The overall market can support higher lot rents that surpass the $600 mark based on limited affordable housing supply and the fact that this is and has been one of the fastest growing cities and metros in the country over the last 10 years.

The town of Stanley is located just outside of Charlotte in Gaston County, North Carolina. The Park is centrally located near Stanley’s main retail corridor and is ±2.5 miles from Food Lion, Wendy’s, Bojangles, O’Reilly Auto Parts and numerous other national retailers. As of 2021, the Property’s demographics have ±33,688 individuals residing within a five-mile radius, with an average household income of ±$69,983.
 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

ClosedNovember 29th, 2021
This asset was part of the October 28th 2021 sale event, resulting in a successful transaction that closed in just 32 days.

Ready to sell your asset on the platform with the highest trade rate in the industry?
Get Started Today!

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Lamar P. Fisher

    Fisher Auction Company Inc.

    License: 7100