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115 Arrowood Rd
Wadesboro, NC 28170

$750,000

Multifamily For Sale  •  435,600 Sq Ft

Property Details

  • Property Type Multifamily
  • Total Building Size 435,600 Sq Ft
  • Year Built 1970
  • Cap Rate 11.08 %
0 Transit Score
1 Walk Score

Description

Pine Terrace is a 38 pad manufactured housing community located in Wadesboro North Carolina operating on public water and sewer. Of these 38 pads, 26 are currently occupied by park owned homes, with an additional 2 homes currently being used as an office and park storage (non-revenue units). Ownership is also currently responsible for paying water off of a single meter which represents an opportunity for new owners to sub-meter in year 1, eliminating an annual $10,000+ expenses.
Located right off Highway 74, which connects Charlotte to the North Carolina cost, Pine Terrace is situated in an opportunity zone poised for significant growth in the coming year. The parks is also just 1 mile from the nearest Walmart.

Financial Summary

Cap Rate: 11.08 %
Ian Turnbull 843-952-2265 Marcus & Millichap Inc
Ian Turnbull 843-952-2265 Marcus & Millichap Inc