COOPER MHP 1411 Seabrook School Rd 13 Unit Mobile Home Park $1,096,249 CAD ($84,327 CAD/Unit) Fayetteville, NC 28312

1411-1421 Seabrook School Rd. (“Subject Property”) consists of 11 pads (filled with 9 park owned homes with titles and 2 tenant owned homes) and 2 rental houses located on 10 acres. Current net operating income is $72,301. One of the rental houses is currently occupied by owner (to vacant upon sale), which will provide an additional source of revenue ($16,800 with rent $1,400 minimum) immediately following acquisition. For that reason, the proforma cap rate for the property is 11.2%. The park is quiet and in good condition with long-term tenants.
 
1411 Seabrook School Rd. (5.10 acres) is zoned R6A, which per the zoning ordinance permits up to eight (8) mobile homes per acre for expansion. In addition, there is potential for the rezoning of 1421 Seabrook School Rd. (4.90 acres zoned R30A) for further expansion. Although, 1421 Seabrook School Rd (4.90 acres zoned R30A) should permit at least another four (4) mobile homes even without rezoning.
 
In addition to the homes, the property has 2-bonus storage buildings (40x40 Quonset Hut, and 24x40 building) to house park maintenance equipment (lawnmowers, tools, etc. which can also be purchased). The Subject Property is serviced by three (3) water wells (all new pumps 2023) and septic in good condition. 
 
The Subject Property is located in a quiet area of the East Fayetteville Submarket one-mile from NC Hwy 210 and 5 miles from I-95 (Exit 49 Cedar Creek Rd.).