1717 Roscoe Howey Road, Waxhaw, NC 28173

Description

Wonderful investment opportunity! This nine unit park is sitting on just under 4 acres with beautiful mature trees. It has approximately 428 feet of frontage on Roscoe Howey Road to the north, and it is bordered to the west by Porter Drive. It is an outstanding location - surrounded by picturesque countryside and serene views. Plus, it is still very convenient to shopping, restaurants, and employment opportunities with Waxhaw being less than 6 miles away, downtown Monroe 6.7 miles, and 5 miles to Wesley Chapel Village Commons. It is located in sought after Union County school districts.

The park is made up of two parcels 06-015-039 and 06-015-038. All nine mobile homes are park owned. Renters provide their own furnishings including washer & dryer, refrigerators are park owned. The property also consists of four storage buildings, and an insulated pump house that affords extra storage. A shared 150' deep well serves the whole park, pump was just replaced in 2024. Each unit has its own septic tank. The tenants are responsible for mowing their own yards. Community has two street lights.

The current owners have enjoyed having this property, and lovingly maintained it including extra plantings. They have repainted the units every five years, and applied Cool Seal to the roofs every three years. Owners have a list of reliable vendors that they will share.
This park consistently operates at nearly 100% rented, with an established history of long term renters (average stay of over 5 years), and very quick turnover. At list price it has a Cap Rate of 7.5%. The rents are under market value, so there is potential for an even greater return. *PLEASE DO NOT DISTURB TENANTS.*