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4697 Roundleaf Rd - Cedar Lane Mobile Home Park - 12 TOHs 12 Unit Apartment Building Offered at $1,084,200 CAD at a 5.03% Cap Rate Ramseur, NC 27316
Executive Summary
Cedar Lane Mobile Home Park consists of 12 tenant owned homes (TOHs) located on 8.2 acres in the Ramseur Submarket of North Carolina.
Cedar Lane MHP is being listed in conjunction with the Wilson Mobile Home Park located at 370-371 Star Lane, Sanford, NC (13 TOHs, 2 POHs). The two parks can be purchased jointly or separately.
Cedar Lane MHP infrastructure consists of gravel roads and security lighting. The park is serviced by city water and septic tanks (1 to 1 ratio). All utilities are individually metered and paid for by tenants. Trash pickup is paid for by owner ($125 monthly).
Current monthly gross operating income is $3,600 ($300 lot rent; $43,200 annual) with a substantial value-add opportunity by increasing rents to market level ($375-$550 lot rent estimate). The proforma NOI, using $450 lot rent, is $60,825 (7.79% cap rate).
Cedar Lane MHP is centrally located in North Carolina in the Ramseur Submarket within 30 miles of Greensboro and 60 miles of Raleigh.
Cedar Lane MHP is being listed in conjunction with the Wilson Mobile Home Park located at 370-371 Star Lane, Sanford, NC (13 TOHs, 2 POHs). The two parks can be purchased jointly or separately.
Cedar Lane MHP infrastructure consists of gravel roads and security lighting. The park is serviced by city water and septic tanks (1 to 1 ratio). All utilities are individually metered and paid for by tenants. Trash pickup is paid for by owner ($125 monthly).
Current monthly gross operating income is $3,600 ($300 lot rent; $43,200 annual) with a substantial value-add opportunity by increasing rents to market level ($375-$550 lot rent estimate). The proforma NOI, using $450 lot rent, is $60,825 (7.79% cap rate).
Cedar Lane MHP is centrally located in North Carolina in the Ramseur Submarket within 30 miles of Greensboro and 60 miles of Raleigh.
Property Facts
| Price | $1,084,200 CAD | Property Type | |
| Price Per Unit | $90,350 CAD | Building Size | 1,500 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.03% | Year Built | 1980 |
| No. Units | 12 | Opportunity Zone |
Yes
|
| Zoning | RA-16 | ||
| Price | $1,084,200 CAD |
| Price Per Unit | $90,350 CAD |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| No. Units | 12 |
| Property Type | |
| Building Size | 1,500 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Opportunity Zone |
Yes |
| Zoning | RA-16 |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 8701-59-3003 | Improvements Assessment | $88,070 CAD |
| Land Assessment | $227,182 CAD | Total Assessment | $315,252 CAD |
Property Taxes
Parcel Number
8701-59-3003
Land Assessment
$227,182 CAD
Improvements Assessment
$88,070 CAD
Total Assessment
$315,252 CAD
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4697 Roundleaf Rd - Cedar Lane Mobile Home Park - 12 TOHs
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