Turnaround Park Newport NC

This is a pocket listing that has 40 lots, but I think the upside of this park is tremendous. It is just inland from Beaufort and Morehead City in Newport NC. This area is an affluent desirable part of the state. There is also a marine base nearby. Across the street from this park is an established upper middle class subdivision. That being said this park is a turnaround park. It needs a cosmetic upgrade.The current owner only has 15 lots rented at $200. Market rent for the area is $265. The current owner just doesnt want to deal with tenants. He is asking $499k and is willing to owner finance $225k As it sits it’s current initial value is $200x15x70=210,000. I’m sure there will be some negotiating room. I believe the right investor could turn this park around and create value by filling this park, and the potential is as follows $265x40x70=742,000. Let me know if you want more information.
Yvette

werty721@outlook.com

please send info thanks!

Be aware of the environmental concerns around that base. Make sure you get a clean Phase 1!

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I’m in the market to buy up about 1000-1500 pads nationally and have cash. Please email me memo at mark@mrh-holdingsllc.com. Thanks and have a great day!

please contact me at peddisetty@gmail.com or 318-235-5720.