84-Unit, Cash Flowing & Value-Add Manufactured Home Community

The Esterson MHC Team is excited to present Hidden Lakes Manufactured Home Community, an 84-unit manufactured home community located in the serene town of King, NC which is part of the Winston Salem NC MSA. This well-maintained community presents significant upside potential. The Winston-Salem NC MSA has a population of approximately 695,630 and is growing rapidly, and benefits from its strategic location within the state, making it an attractive market for future development initiatives.

Hidden Lakes Manufactured Home Community features 84 MH lots. There are 31 tenant-owned homes (TOH), 2 Rent to Own Homes (RTO), 5 Vacant Park Owned Homes (POH) and 46 vacant lots. The average lot rental rate is $430 per month, offering a significant opportunity to increase rents to market due to the limited supply of affordable housing and the growing demand in this market.

The community operates on public water and private sewer systems. Tenants are responsible for water utility payments, and curbside trash service is billed back to the residents. The landlord is responsible for the sewer system costs. Private roads are paved and in good condition enhancing both the value and appeal of the property. Additionally, recent tree trimming and general park beautification projects have been completed, providing added convenience and safety for tenants, making this community an even more attractive living environment.

Hidden Lakes Manufactured Home Community is currently managed by an on-site manager who oversees day-to-day operations. This community is priced at $2,500,000 and presents a value-add opportunity for investors looking to acquire an asset with major upside potential. Both conventional recourse, non-recourse, and bridge lending options are available. Interested parties are encouraged to submit their offers with price, timeline, escrow amount, and a list of due diligence requirements.

Broker Info:

Ben Yelm – Marcus & Millichap

151 Meeting St, Suite 450, Charleston, SC 29401

Lic #: 303785

(843) 952-2300