Updated almost 5 years ago on . Most recent reply
4 acres with 4 mobile homes in NC
Hello BP, this is my first post and I have a couple of questions. I have an opportunity to purchase 4 acres with 4 mobile homes that are currently tenant occupied. Total monthly rent is $1,850 and asking price is $160,000. (We will be negotiating this)
I checked the zoning on the county GIS site, and it is zoned for MHs, which we plan on adding more in the future. (I will call the actual zoning office to confirm)
My question is what should I consider in this purchase?
Do I consider the actual rent of the homes at all? They are all park owned (built 1990,1994, 1994, 1998) or do I just look at lot rent?
It isn't a "mobile park" per say, it is just one person who owns 4 adjoining acres.
Thank you in advance!