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$Unpriced

14 MHC Portfolio – Southeast NC

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The Esterson MHC Team of Marcus & Millichap, alongside Jonathan McClellan and Kyle Baskin, are delighted to introduce a unique opportunity to acquire fourteen manufactured housing communities in southeast North Carolina, comprising a total of 889 sites. This portfolio is open for acquisition as a comprehensive package or as individual assets, ensuring flexibility for potential investors.

Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.

ll the communities receive public water and sewer services, with the exception of Taylor’s Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.

All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles. This proximity facilitates operational and management efficiencies for a new investor looking to capitalize on these strategic geographic arrangements.

Over half of the communities have experienced comprehensive infrastructure upgrades, including the installation of new roads.

This represents a value-add real estate opportunity within manufactured housing communities. The potential for enhancement and increased value exists through strategic improvements, management optimization, or other value-creating initiatives. This investment provides a chance for savvy investors to capitalize on the growth and improvement potential within the manufactured housing sector.

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Details

Price : $Unpriced
Lots : 889
# of Parks : 14
Investment Type : Value Add
Property Type : MHP
Status : On-Market
Address : 3381 E ELIZABETHTOWN RD, LUMBERTON, NC
MSA/ST : Southeast NC
Tenants : 520
Utility : Mixed
POH : 522
Occupancy Rate : 58.5%
Current Average Lot Rent : $784
Gross Income (All Income Sources) : $4,713,828
Property ID : 10265

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Glenn Esterson

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