$1,717,000
$1,950,000
11.9%For more information regarding the value of a property, please contact us for a free consultation.
2689 Timerill DR Morganton, NC 28655
7.18 Acres Lot
Key Details
Sold Price $1,717,000
Property Type Commercial
Sub Type Manufactured Home Park
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 4092912
Sold Date 07/08/24
Year Built 1965
Lot Size 7.180 Acres
Acres 7.18
Property Description
This 52 pad MHP offers a density that is difficult to find either on, or off the market in Western NC! The park contains mostly older singlewides, with 14 tenant owned units, 11 park owned units, 17 vacant park owned units, 10 vacant pads. The park features a gently sloping topography that offers pleasant views from the knoll top in the center of the property. MHP pads and units are served by a combination of individual and shared septics. Landlord covers trash/waste service, also city water/sewer billing. The opportunity exists to pass thru additional utility expenses to tenants. Zoned R-3 in Burke County. Convenient location only 7 miles to downtown Morganton and 9 miles to downtown Lenoir with high visibility and easy access off Hwy 64. All considered, this park offers an excellent opportunity for a value-add investor to create significant long-term cash flow with a good park density in a growing region that will see continued housing demand.
Location
State NC
County Burke
Zoning R-3
Exterior
Utilities Available Cable Available, Satellite Internet Available, Underground Utilities
View Long Range, Mountain(s), Winter, Year Round
Roof Type Other - See Remarks
Building
Lot Description Cleared, Sloped, Views
Foundation Pillar/Post/Pier
Sewer Septic Installed
Water Community Well, Shared Well, Well
Structure Type Other - See Remarks
New Construction false
Others
Senior Community false
Restrictions No Restrictions
Acceptable Financing Cash, Conventional, Nonconforming Loan, Owner Financing, Other - See Remarks
Listing Terms Cash, Conventional, Nonconforming Loan, Owner Financing, Other - See Remarks
Special Listing Condition None
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© 2024 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Bought with Tyler Mellor • EXP Realty LLC Asheville