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Kelly Myers - MrLakeNorman

kelly@mrlakenorman.com +1(704) 621-5000

$ 1,590,000

Est. payment | -/mo

20 Beds

14 Baths

7,756 SqFt

Save

$ 1,590,000

Est. payment | -/mo

Save

20 Beds

14 Baths

7,756 SqFt

Key Details

Property Type Multi-Family

Sub Type Eightplex+

Listing Status Active

Purchase Type For Sale

Square Footage 7,756 sqft

Price per Sqft $205

MLS Listing ID 4367822

Bedrooms 20

Full Baths 14

Abv Grd Liv Area 7,756

Year Built 1984

Lot Size 3.940 Acres

Acres 3.94

Property Sub-Type Eightplex+

Property 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.*

Location

State NC

County Union

Building/Complex Name Cardinal Park

Zoning AF8

Interior

Heating Central, Electric, Heat Pump

Cooling Ceiling Fan(s), Central Air, Window Unit(s)

Appliance Electric Range, Electric Water Heater, Refrigerator

Laundry Electric Dryer Hookup, Washer Hookup

Exterior

Street Surface Gravel,Paved

Garage false

Building

Lot Description Corner Lot, Wooded, Views

Dwelling Type Manufactured

Foundation None

Sewer Septic Installed

Water Shared Well

Structure Type Aluminum,Vinyl

New Construction false

Schools

Elementary Schools Western Union

Middle Schools Parkwood

High Schools Parkwood

Others

Pets Allowed Yes

Senior Community false

Special Listing Condition None

Listed by Sue Valentine Plyler • 1st Choice Properties Inc • SueAnnVP@gmail.com

Nearby School & Business

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Kelly Myers - MrLakeNorman

+1(704) 621-5000

Broker/Owner/Trainer/Coach License ID: 300067

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1717 Roscoe Howey RD Waxhaw, NC 28173

Kelly Myers - MrLakeNorman

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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