-Off market deal
-$700,000
-Booming Charlotte MSA
-With-in city limits (not Charlotte)
-Significant public investment being made in the area
-20 minutes from Charlotte Douglas airport
-32 lots (31 lot rent / 1 vacant POH in good shape ready to sell)
-City water direct billed
-Electric direct billed
-Septic (2 to 1) - 2 leach fields in the process of being expanded. Have had issues in the past. Looking into connecting to city sewer. I spoke with the city and it is possible. Would need to work with engineer to draw up plans, have it permitted and then have utility contractor install it.
-Lot rents are $280/month. Market is $300-335 (can provide comps)
-Park pays for trash
Depending on rent increase, you could get this to a 10% CAP. Will provide my financial model. Serious inquiries only. If you have issues with septic please don’t bother (unless you have the capital to install city sewer). Probably not a good fit for first time park owner. I need confidence in ability to close. I’m not taking any kind of fee on this. It is part of a package deal and I am taking the other asset. I would rather not spend the resources on the septic. Aside from the septic issue it checks all of the boxes for a great park. PM me and let me know what questions you have and information you need. Happy to hop on the phone to discuss further if it makes sense.
-Chris