I’m looking into a park that is basically one dead end street with lots on each side. The seller owns 28 lots, about 20 of them occupied,
There are about 10 additional lots that over the years were sold to separate owners.
Is this concerning? I know it’s preferable to own everything, to help control rents on the street… but should it be a deal-breaker?
The standard metrics are very favorable, pop hasn’t raised the rents to where they should be, great sales price.